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 driversthe number of pizzas sold and the number of deliveries made. The pizzeria's cost formulas appear below: Fixed Cost per Month Cost per Pizza $ 4.70 Cost per Delivery $5,970 640 $ 0.60 Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous $3.40 $1.80 $ 660 $ 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 were as follows: 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 Revenue and Spending Flexible Variances Budget 1,750 Actual Results 1.750 Activity Variances Planning Budget Pizzas Deliveries 230 230 Revenue S 32,080 Expenses: Pizza ingredients Kitchen staff U 7,750 5,910 None Utilities 900 F U 782 None 992 Delivery person Delivery vehicle Equipment depreciation Rent 424 None None 1.930 None None Miscellaneous 808 U U 0 Total expense Net operating income 19,496 12,584 OO S S S 0