7/14/2021 Assignment Print View 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 pizzeria's owner has determined that the shop has two major cost drivers--the number of pizzas sold and the number of deliveries made. The pizzeria's cost formulas appear below: Milano Pizza Flexible Budget Performance Report For the Month Ended November 30 Flexible Budget Fixed Cost per Month Cost per Pizza $ 4.10 Cost per Delivery Actual Results 2,230 Planning Budget $ 6,290 $ 800 $ 0.20 Pizzas Deliveries Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous $ 3.00 $ 2.20 230 $ 820 $ 552 $ 2.250 $ 920 $ 0.10 $ 40,880 In November, the pizzeria budgeted for 2,130 pizzas at an average selling price of $18 per pizza and for 250 deliveries. Revenue Expenses: Pizza ingredients Kitchen staff 10,630 Data concerning the pizzeria's actual results in November were as follows: 6,230 Pizzas Deliveries Actual Results 2,230 230 Utilities 980 690 1,024 Delivery person Delivery vehicle Equipment depreciation Rent Revenue Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous 40,880 $ 10,630 6.230 980 690 $ 1,024 $ 552 2,250 $ 904 552 2.250 Miscellaneous 904 Total expense Net operating income 23,260 17,620 $ 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.)