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: Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous Fixed Cost Cost per Cost per per Month Pizza Delivery $ 4.70 $5,970 $ 640 $ 0.60 $3.40 $ 660 $1.80 $ 424 $1,930 $ 760 $ 0.06 In November, the pizzeria budgeted for 1,650 pizzas at an average selling price of $18 per pizza and for 250 deliveries. Data concerning the pizzeria's actual results in November appear below: Actual Results 1,750 230 Pizzas Deliveries Revenue Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous $ 32,080 $ 7,750 $ 5,910 $ 900 $ 782 $ 992 $ 424 $ 1,930 $ 808 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 Pizzas Deliveries Actual Results 1,750 230 Revenue $ 32,080 Expenses: Pizza ingredients Kitchen staff Utilities 7,750 5,910 900 782 992 424 Delivery person Delivery vehicle Equipment depreciation Rent 1,930 808 Miscellaneous Total expense Net operating income 19,496 $ 12,584