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 Pizza ingredients $ 4.50 Kitchen staff $ 5,930 Utilities $ 620 $ 0.40 Delivery person $ 3.20 Delivery vehicle $ 640 $ 1.60 Equipment depreciation $ 408 Rent $ 1,890 Miscellaneous $ 740 $ 0.20 In November, the pizzeria budgeted for 1,590 pizzas at an average selling price of $16 per pizza and for 230 deliveries. Data concerning the pizzerias actual results in November appear below: Actual Results Pizzas 1,690 Deliveries 210 Revenue $ 27,600 Pizza ingredients $ 7,390 Kitchen staff $ 5,870 Utilities $ 890 Delivery person $ 672 Delivery vehicle $ 988 Equipment depreciation $ 408 Rent $ 1,890 Miscellaneous $ 796 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.)

For the Month Ended November 30
	Actual Results			Flexible Budget			Planning Budget
Pizzas	1,690
Deliveries	210
Revenue	$27,600
Expenses:
Pizza ingredients	7,390
Kitchen staff	5,870
Utilities	890
Delivery person	672
Delivery vehicle	988
Equipment depreciation	408
Rent	1,890
Miscellaneous	796
Total expense	18,904
Net operating income	$8,696