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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: Fixed Cost per Month Cost per Pizza $ 4.50 Cost per Delivery $6,370 $ 840 $ 0.60 Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous $3.40 $1.50 $ 860 $ 584 $2,330 $ 960 $ 0.10 In November, the pizzeria budgeted for 2,250 pizzas at an average selling price of $22 per pizza and for 210 deliveries. Data concerning the pizzeria's actual results in November were as follows: Actual Results 2,350 190 Pizzas Deliveries Revenue Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous $ 52,480 $ 11,350 $ 6,310 $ 1,000 $ 646 1,032 $ 584 2,330 $ 928 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 Actual Results 2,350 Flexible Budget Performance Report For the Month Ended November 30 Revenue and Spending Flexible Variances Budget 2,350 Activity Variances Planning Budget Pizzas Deliveries 190 190 $ 52,480 $ 780F $ 51,700 Revenue Expenses Pizza ingredients 11,350 U Kitchen staff 6,310 60 F 6,370 Utilities 1,000 1,250 F 2,250 646 o None 646 Delivery person Delivery vehicle Equipment depreciation 1,032 113 F 1,145 584 0 None 584 Rent 2,330 O None 2,330 Miscellaneous 928 267 F 1,195 Total expense 24,180 14,520 0 Net operating income $ 28,300 F $ 37,180 $ 0