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Tio's Taco Truck, LLC, owned by Tim Garcia, operates a mobile taqueria food truck. The food truck's daily base of operation is the parking lot of Circle K convenient store where the LLC pays a monthly lot rental fee. During the warmer months, Tim contracts with various promoters to provide the truck and food at the location of specific events. In the winter months, there are limited events, and revenue decreases. Wanting to increase his winter revenue, Tim spoke with many of his customers to gather revenue increasing ideas. Tim projects that he can increase winter sales by offering free delivery during limited hours and with a minimum purchase amount. This requires that Tim hire Delivery staff and incur Delivery vehicie expenses. Tim will implement his plan starting in December of this year. Tim prepared the following estimated cost formulas for December using two costs drivers: number of tacos sold and number of deliveries. Tim budgeted for 2,500 tacos sold at $7.50 each and 150 deliveries. Tio's Taco Truck, LLC actual results for December are as follows: Required: 1. Using Excel, construct the December's Flexible budget performance evaluation report for Tio's Taco Truck, LLC. Use the same column format and naming convention as Exhibit 7-8 of the book. Use formulas to create the flexible budget and to calculate the variances. The revenue and costs formula are given in the planning budget. Remember to create a column to indicate if the variance is " F " favorable or " U " unfavorable. If the variance is zero, enter " N " none. 2. Based on a reported net income of $3,500 for November, recommend a course of action for Tio's Taco Truck, LLC. for the remaining winter months. Include all of your group's ideas on how to generate and increase net profit. Organize the results. Use business writing

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