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 Cost per cost per per Month Pizza Delivery Pizza ingredients Kitchen staff $ 5,220 Utilities $ $ 0.0 Delivery person $ 3.50 Delivery vehicle Equipment depreciation $ 275 Rent $ 1,830 Miscellaneous 820 $ 0.15 $ 3.80 630 $ 540 $ 1.50 $ In November, the pizzeria budgeted for 1,200 pizzas at an average selling price of $13.50 per pizza and for 180 deliveries. Data concerning the plzzeria's actual results in November appear below. Actual Results Pizzas 1,240 Deliveries 174 Revenue $ 17,420 Pizza ingredients $ 4,985 Kitchen staff $ 5,281 Utilities $ 984 Delivery person $ 609 Delivery vehicle Equipment depreciation 275 Rent $ 1,830 Miscellaneous $ 954 $ $ 655 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 1.240 Activity Variances Actual Results 1,240 174 Planning Budget 1,200 180 Pizzas Deliveries 174 $ 17.420 $ 680 F $ 16,740 $ 540 E $ 16,200 Revenue Expenses: Pizza ingredients Kitchen staff 4,985 5,281 2730 610 4,712 5,220 1520 o None 4,560 5,220 690 Utilities 984 2920 692 20 609 0 None 609 21 F 630 655 146F 801 369 F 275 o None 275 O None 275 Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous Total expense Net operating income 1,830 954 15,573 1,847 s o None 52F U IF 1,830 1,006 15,145 1,595 O None 60 U 1,830 1,000 14.205 1.995 $ $ F $