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 $ 4.40 Kitchen staff $ 6,130 Utilities $ 720 $ 0.40 Delivery person $ 3.20 Delivery vehicle $ 740 $ 1.40 Equipment depreciation $ 488 Rent $ 2,090 Miscellaneous $ 840 $ 0.20 In November, the pizzeria budgeted for 1,890 pizzas at an average selling price of $18 per pizza and for 250 deliveries. Data concerning the pizzerias actual results in November appear below: Actual Results Pizzas 1,990 Deliveries 230 Revenue $ 36,480 Pizza ingredients $ 9,190 Kitchen staff $ 6,070 Utilities $ 940 Delivery person $ 736 Delivery vehicle $ 1,008 Equipment depreciation $ 488 Rent $ 2,090 Miscellaneous $ 856 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 Flexible Budget Planning Budget Pizzas Deliveries Actual Results 1,990 230 Revenue $ 36,480 Expenses: Pizza ingredients Kitchen staff 9,190 6,070 940 Utilities 736 Delivery person Delivery vehicle Equipment depreciation 1,008 Rent Miscellaneous Total expense Net operating income 488 2,090 856 21,378 15,102 $