The following is required:

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 $ 4.60 Kitchen staff $5,950 Utilities 630 $ 0.50 Delivery person $3.30 Delivery vehicle 650 $1. 70 Equipment depreciation 416 Rent $1, 910 Miscellaneous 750 $ 0.25 In November, the pizzeria budgeted for 1,620 pizzas at an average selling price of $17 per pizza and for 240 deliveries. Data concerning the pizzeria's actual results in November appear below: Actual Results Pizzas 1, 720 Deliveries 220 Revenue $ 29, 810 Pizza ingredients 7,570 Kitchen staff 5, 890 Utilities 895 Delivery person 726 Delivery vehicle 990 Equipment depreciation 416 Rent 1, 910 Miscellaneous 802Required: 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 Planning Results Budget Budget Pizzas 1,720 Deliveries 220 Revenue 29,810 Expenses: Pizza ingredients 7,570 Kitchen staff 5,890 Utilities 895 Delivery person 726 Delivery vehicle 990 Equipment depreciation 416 Rent 1,910 Miscellaneous 802 Total expense 19,199 Net operating income 10.611