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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.

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 pizzerias cost formulas appear below: Fixed Cost per Month Cost per Pizza Cost per Delivery Pizza ingredients $ 4.20 Kitchen staff $ 6,310 Utilities $ 810 $ 0.30 Delivery person $ 3.10 Delivery vehicle $ 830 $ 1.20 Equipment depreciation $ 560 Rent $ 2,270 Miscellaneous $ 930 $ 0.15 In November, the pizzeria budgeted for 2,160 pizzas at an average selling price of $19 per pizza and for 180 deliveries. Data concerning the pizzerias actual results in November were as follows: Actual Results Pizzas 2,260 Deliveries 160 Revenue $ 43,690 Pizza ingredients $ 10,810 Kitchen staff $ 6,250 Utilities $ 985 Delivery person $ 496 Delivery vehicle $ 1,026 Equipment depreciation $ 560 Rent $ 2,270 Miscellaneous $ 910 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.

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