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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.

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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: cost per Fixed Coat per Month 56,130 $720 Cost per Delivery Pizza 5.4.40 $ 0.40 Pizza ingredients Kitchen start Utilities Delivery person Delivery vehiele Equipment depreciation Rent Miscellaneous $3.20 $1.40 $ 740 $488 $2,090 9040 00.20 In November, the pizzeria budgeted for 1,890 pizzas at an average selling price of $18 per pizza and for 250 deliveries. Data concerning the pizzeria's actual results in November were as follows: Actual Resulta 1,990 230 Pizza Deliveries Revenge Pana ingredients Kitchen start Utilities Delivery person Delivery vehiela Equipment depreciation Rent Miscellaneous $36,480 $ 9.190 $ 6,070 $ 940 $ 736 $1,000 $ 480 $ 2,090 5 856 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.) Milano Pizza Flexible Budget Performance Report For the Month Ended November 30 Flexible Budget Planning Budget Actual Results 1,990 230 Pizzas Deliveries $ 36,480 Revenue Expenses Puzza ingredients Kitchen staff 9,100 6,070 940 736 Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous Total expense Net operating income 1,008 488 2.090 856 21,378 15,102 $ $

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