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 (ie., zero variance). Input all amounts as positive values.) Milano Pizza Flexible Budget Performance Report For the Month Ended November 30 Pizzas Deliveries Actual Results 2,260 160 Revenue $ 43,690 Expenses: Pizza ingredients 10,810 Kitchen staff 6,250 Utilities 985 Delivery person 496 Delivery vehicle 1,026 Equipment depreciation 560 Rent 2,270 Miscellaneous 910 Total expense 23,307 Net operating income $ 20,383 Flexible Budget Planning Budget 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: Cost per Cost per Pizza Delivery Fixed Cost per Month Pizza ingredients $4.20 Kitchen staff $6,310 Utilities $ 810 $0.30 Delivery person Delivery vehicle $ 830 Rent Miscellaneous Equipment depreciation $3.10 $1.20 $560 $2,270 $930 $ 0.15 In November, the pizzeria budgeted for 2160 pizzas at an average selling price of $19 per pizza and for 180 deliveries. Data concerning the pizzeria's actual results in November appear below. Pizzas Deliveries Revenue Pizza ingredients Kitchen staff Utilities Actual Results 2,260 160 $43,690 $ 10,810 $6,250 $ 985 Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous $ 496 $1,026 $ 560 $ 2,270 $ 910