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 plzeria's owner has determined that the shop has two major cost driver--the number of pizzas sold and the number of deliveries made The pizzeria's cost formulas appear below: Fixed Cont per month Cont per PLE Cett per Del $ 6,010 5660 30.00 $ 3.60 Tinta Ingrediente Kitchen start Utilities Delivery per Delivery vehiele Equipment depreciation Rant Hacellaneous 3685 5440 $ 1,970 780 50.10 In November, the pizzeria budgeted for 1.710 pizzas at an average selling price of $20 per pizza and for 190 deliveries Data concerning the pizzeria's actual results in November were as follows: Atest Pavas Deliveries Beve Pana ingredients Kitchen atat Bities Delivery person Delivery vehicle Equipoant depreciation Rent Miscellaneous 1,010 170 3.36,100 08.110 $5.950 910 1996 140 $ 1,970 $ 820 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 for unfavorable, and "None" for no effect (.e. zero variance). Input all amounts as positive values.) Mano Pias Flexible Budget Performance Report For the Month Ended November 30 Actual Flexible Result Budget 1.810 170 $ 36.800 Planning Budget 8.110 5.950 910 Punas Deliveries Revenue Expenses Pizza ingredients Kitchen start Uites Delivery person Delivery wide Equipment depreciation Rent Miscellaneous Total expense Net operating income 42 996 440 1.970 890 18.638 17,152 $ 5 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 Cost per Pizza $ 4.90 Cost per Delivery $ 6,010 $ 660 $ 0.80 Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous $ 2.60 $ 2.00 $ 680 $ 440 $ 1,970 $ 780 $ 0.10 In November, the pizzeria budgeted for 1,710 pizzas at an average selling price of $20 per pizza and for 190 deliveries. Data concerning the pizzeria's actual results in November were as follows: Pizzas Deliveries Revenue Pizza ingredients Kitchen start Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous Actual Results 1,810 170 $ 36, 800 $ 8,110 $ 5,950 $ 910 $ 442 $ 996 $ 440 $ 1,970 $ 820 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 Actual Flexible Results Budget 1,810 170 $ 36,800 Planning Budget Pizzas Deliveries Revenue Expenses: Pizza ingredients Kitchen staff 8.110 5,950 Utilities 910 Delivery person Delivery vehicle Equipment depreciation 442 996 440 Rent Miscellaneous Total expense Net operating income 1,970 820 19,638 17,162 0 0 $ $ 0 $ 0