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

$ 4.40 $6,350 $ 830 $ 0.50 Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous $3.30 $1.40 850 $ 576 $2,310 $ 950 $ 0.25 In November, the pizzeria budgeted for 2,220 pizzas at an average selling price of $21 per pizza and for 200 deliveries. Data concerning the pizzeria's actual results in November were as follows: Actual Results 2,320 Pizzas Deliveries 180 Revenue Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous AAAAAAAAA $ 49,490 $ 11,170 $ 6,290 $ 995 $ 594 $ 1,030 $ 576 $ 2,310 $ 922 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 Actual Results Planning Budget Pizzas 2,320 Deliveries 180 Revenue $ 49,490 Expenses Pizza ingredients 11,170 Kitchen staff 6,290 Utilities 995 Delivery person 594 1,030 Delivery vehicle Equipment depreciation Rent 576 2,310 Miscellaneous 922 23,887 0 0 Total expense Net operating income $ 25,603 $ 0 $ 0