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: Fixed Cost per Month Pizza ingredients Cost per Pizza $ 4.60 Cost per Delivery Kitchen staff $ 5,950 Utilities Delivery person $ 630 $ 0.50 Delivery vehicle $ 650 $ 3.30 $ 1.70 Equipment depreciation Rent $ 416 $ 1,910 $ 750 $ 0.25 Miscellaneous In November, the pizzeria budgeted for 1,620 pizzas at an average selling price of $17 per pizza and for 240 deliveries. Data concerning the pizzeria's actual results in November were as follows: Actual Results 1,720 Pizzas Deliveries Revenue Kitchen staff 220 $ 29,810 Pizza ingredients $ 7,570 $ 5,890 Utilities Delivery person $ 895 $ 726 Delivery vehicle Equipment depreciation Rent Miscellaneous Required: $ 990 $ 416 $ 1,910 $ 802 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 Pizzas Deliveries Actual Results Activity Variances 1,720 220 $ 29,810 Flexible Budget Activity Variances Planning Budget Revenue F Expenses: Pizza ingredients 7,570 Kitchen staff 5,890 None Utilities 895 F U Delivery person 726 None F Delivery vehicle 990 F F Equipment depreciation 416 None None Rent 1,910 None None Miscellaneous 802 F Total expense 19,199 F 0 U 0 Net operating income $ 10,611 F $ F $ 0