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: Cost per Delivery Fixed Cost Cost per per Month Pizza $ 4.10 $6,070 $ 690 $ 0.10 Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous $2.90 $2.30 $ 710 $ 464 $2,030 $ 810 $ 0.05 In November, the pizzeria budgeted for 1,800 pizzas at an average selling price of $15 per pizza and for 220 deliveries. Data concerning the pizzeria's actual results in November were as follows: Actual Results 1,900 200 Pizzas Deliveries Revenue Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous $ 29, 130 $ 8,650 $ 6,010 $ 925 $ 580 $ 1,002 $ 464 $ 2,030 $ 838 Required: 1. Complete the flexible budget performance report that shows both revenue and spending variances and activity variances for the 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.) Answer is complete but not entirely correct. Milano Pizza Flexible Budget Performance Report For the Month Ended November 30 Revenue and Spending Flexible Variances Budget 1,900 200 Actual Results 1,900 Activity Variances Pizzas Deliveries Planning Budget 1,800 220 200 Revenue $ 29,130 $ 630 > F $ 28,500 $ 1,500F $ 27,000 Expenses: Pizza ingredients Kitchen staff 8,650 860 U 410 U 7,380 6,010 7,790 6,070 880 0 None 60F F 45 U 6,070 870 Utilities 925 10U 580 0 636 XF None F 580 1,170 1,002 168 532 X U X Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous 1,216 638 X 464 464 0 None 464 0 None 2,030 838 0 None 67 F 2,030 905 19,889 None 5U 321 lu 2,030 900 Total expense 20,499 610 lu 19,568 Net operating income $ 8,631 $ 20 F $ 8,611 $ 1,179 F $ 7,432