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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

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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 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: Pixed Cost per Month Cost per Pizza cost per Delivery $ 4.40 $5,910 $ 610 $ 0.30 Pizza ingredients kitchen statt Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous $3.10 $1.50 $ 630 $ 400 $1,870 730 $ 0.15 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 pins Deliveries $ 25,450 $ 7,210 $ 5,850 BBS Revenue Pizza ingredients Kitchen Staff Utilities Delivery person Delivery vehiele Equipment depreciation Rent Miscellaneous $ 1,870 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 (.e., zero variance). Input all amounts as positive values.) Milano Pizza Flexible Budget Performance Report For the Month Ended November 30 Flexible Budget Actual Results Planning Budget Pizzas 1,660 Deliveries 200 25.4501 Revenue Expenses Pizza ingredients Kitchen staff Utilities 7.210 5,850 885 620 Delivery person Delivery vehicle Equipment depreciation 986 400 Rent Miscellaneous 1.8701 790 18.611 6,839 Total expense Net operating income $

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