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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 $ 4.70 Kitchen staff $ 6,190 Utilities $ 750 $ 0.70 Delivery person $ 3.50 Delivery vehicle $ 770 $ 1.70 Equipment depreciation $ 512 Rent $ 2,150 Miscellaneous $ 870 $ 0.10 In November, the pizzeria budgeted for 1,980 pizzas at an average selling price of $13 per pizza and for 200 deliveries. Data concerning the pizzerias actual results in November were as follows: Actual Results Pizzas 2,080 Deliveries 180 Revenue $ 27,730 Pizza ingredients $ 9,730 Kitchen staff $ 6,130 Utilities $ 955 Delivery person $ 630 Delivery vehicle $ 1,014 Equipment depreciation $ 512 Rent $ 2,150 Miscellaneous $ 874 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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