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Milano Pizza is a small neighborhood pizzeria that has a small area for in-store dining as well as offering take-out and free home delivery services. The pizzerias owner has determined that the shop has two major cost driversthe number of pizzas sold and the number of deliveries made. The pizzeria's cost formulas appear below: Fixed Cost Cost per Pizza $ 4.40 Cost per Delivery per Month $5,910 $ 610 $ 0.30 Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous $ 3.10 $1.50 $ 630 $ 400 $1,870 $ 730 $ 0.15 n November, the pizzeria budgeted for 1,560 pizzas at an average selling price of $15 per pizza and for 220 deliveries. In November, the pizzeria budgeted for 1,560 pizzas at an average selling price of $15 per pizza and for 220 deliveries. Data concerning the pizzeria's actual results in November appear below: Actual Results 1,660 200 Pizzas Deliveries Revenue Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous $ 25,450 $ 7,210 $ 5,850 $ 885 $ 620 $ 986 $ 400 $ 1,870 $ 790 ta ta ta ta Required: 1. Complete the flexible budget performance report that shows both revenue and spending variances and activity variances for the pizzeria for November. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Milano Pizza Flexible Budget Performance Report For the Month Ended November 30 Flexible Budget Planning Budget Pizzas Actual Results 1,660 200 Deliveries Revenue $ 25.450 Expenses Pizza ingredients 7,210 5,850 Kitchen staff Utilities 885 620 986 Delivery person Delivery vehicle Equipment depreciation Rent 400 1,870 Miscellaneous 790 Total expense 18,611 Net operating income $ 6,839

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