HW 9 i 3 10 points Seved 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: eflook H Print References Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation. Rent Miscellaneous Fixed Cost per Month Cost per Pizza $4.50 Cost per Delivery $ 6,150 $730 $ 0.50 $750 $496 $ 3.30 $ 1.50 $2,110 $850 $ 0.25 In November, the pizzeria budgeted for 1,920 pizzas at an average selling price of $19 per pizza and for 180 deliveries. Data concerning the pizzeria's actual results in November were as follows: Pizzas Deliveries Revenue Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Actual Results 2,020 160 $ 39,050 $9,370 $ 6,090 $9451 $528 $ 1,010 $496 $ 2,110 Miscellaneous Required: $ 862 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.) Pizzas Deliveries Revenue Actual Results 2,020 160 $ 39,050 Milano Pizza Flexible Budget Performance Report For the Month Ended November 30 Revenue and Spending Variances Flexible Planning Activity Variances Budget Budget 2,020 1,920 160 180 $ 36,480 Expenses: Pizza ingredients 9,370 Kitchen staff 6,090 Utilities 945 Delivery person 528 Delivery vehicle 1,010 Equipment depreciation 496 Rent 2,110 + Pizzas Deliveries Revenue Actual Results 2,020 160 $ 39,050 Milano Pizza Flexible Budget Performance Report For the Month Ended November 30 Revenue and Spending Variances Flexible Activity Variances Budget Planning Budget 2,020 160 1,920 180 $ 36,480 Expenses: Pizza ingredients 9,370 Kitchen staff 6,090 Utilities 945 Delivery person 528 Delivery vehicle 1,010 Equipment depreciation 496 Rent 2,110 Miscellaneous 862 Total expense 21,411 0 0 Net operating income $ 17,639 $ 0 $ 36,480