35 points Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Fixed Cost per Month eBook Print $1,500 Cost per Car Washed $0.40 $0.09 $0.15 $0.40 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses References $4,400 $8,100 $1,800 $1,500 $0.03 For example, electricity costs should be $1,500 per month plus $0.09 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.40 per car washed. 1 The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,300 35 points $ 54,580 eBook 3,780 2,208 1,470 Print Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 8,040 References 8,100 2,000 1,646 27, 244 $ 27,336 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.) 1 Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 35 points Actual Results Flexible Budget Planning Budget 8,300 eBook Cars washed Print Revenue $ 54,580 References Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent 3,780 2,208 1,470 8,040 8,100 2,000 Administrative expenses Total expense Net operating income 1,646 27244 27,336 s