2 Air Qual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February 10 points Fixed Component per Month Variable Component per Job $276 Book Revenue Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses Actual Totat for February $33, 130 $ 8,050 $ 8, 770 $ 2,640 $1,680 $ 2,900 $ 585 $8,200 $4,900 $2,400 $1,610 $2,900 $940 $ 31 $ 3 Reference $ 2 The company uses the number of jobs as its measure of activity For example, mobile lab operating expenses should be 54.900 plus $31 per job, and the actual mobile la operating expenses for February were $8.770 The company expected to work 130 jobs in February, but actually worked 138 jobs. Required Prepare a flexible budget performance report showing Aroual Test Corporation's revenue and spending variances and activity variances for February indicate the effect of each variance by selecting "P" for favorable, "U" for unfavorable, and "None" for no effect levere variance). Input all amounts as positive values) AlrQual Test Corporation Meuble Budget Performance Report For the Month Ended February 28 Actual Flexible Resulte Budget 138 Planning Budget Jobs Revenue $ 33. 130 Expenses Technician wages 8,050 Mobilab operating expenses 8.770 Ofis expenses 2.840 Advertising expenses 1680 Insurance 2.900 Misontaneous expenses 505 Total expense 24 545 Net operating income 58,585 Boyne University offers an extensive continuing education program in many cities throughout the state. For the convenience of its faculty and administrative staff and to save costs, the university operates a motor pool. The motor pool's monthly planning budget is based on operating 22 vehicles, however, for the month of March the university purchased one additional vehicle. The motor pool furnishes gasoline, ol, and other supplies for its automobiles. A mechanic does routine maintenance and minor repairs. Major repairs are performed at a nearby commercial garage. The following cost control report shows actual operating costs for March of the current year compared to the planning budget for March Boyne University Motor Pool Cost Control Report For the Month Ended March 31 lover) March Planning Under Actual Budget Budget Miles 58,20e 50,200 Autos 23 22 Gasoline $10,895 $ 9,036 $ (969) oil, minor repairs, parts 3,850 3,514 (336) Outside repairs 1,100 924 (176) Insurance 1.81e 1,694 (116) Salaries and benefits 8,610 8,610 Vehicle depreciation 4,646 4,444 (202) Total $30,021 $28,2225 (1,799) The planning budget was based on the following assumptions $0:18 per mile for gasoline 3. $0.07 per mile for oi, minor repairs and parts $42 per automobile per month for outside repairs $77 per automobile per month for insurance > $8,610 per month for salaries and benefits $202 per automobile per month for depreciation The supervisor of the motor pool is unhappy with the report, claiming to an unfor picture of the motor pools performance Required: Calculate the spending variances for March indicate the effect of each variance by selecting for favorable." for unfavorable, and "None" for no efectezere variance Input all mounts as polos Boyne University Motor Pool Spending Variances For the Month Ended March 31 Gasoline Oil, minor repairs parts Outside repairs Insurance Salanes and benefits Vehicle depreciation Total