3 Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company's costs: Fixed Cost per Month Cost per Car Washed $0.60 $0.08 $0.30 $0.40 10 $1,300 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses points $4,500 $ 8,500 $2,100 $1,500 eBook $0.02 Print References For example, electricity costs are $1,300 per month plus $0.08 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.80 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,300 $ 57,860 Revenue Expenses : Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 5, 420 1,926 2,700 8,140 8,500 2,300 1,564 30,550 $ 27,310 3 Required: Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances for August. (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.) 10 points eBook Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Budget 8,300 Print Planning Budget References Cars washed Revenue $ 57.860 5,420 1,926 2.700 Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses 8.140 8,500 2.300 1,564 30,550 Total expense Net operating income $ S 27,310 Mc