4 (14 Points ) Tajiri Corporation uses customers served as its measu compares the planning budget to the actual operating results for the month of May ion uses customers served as its measure of activity. The following reper Tajiri Corporation Comparison of Planning Budget to Actual Results For the Month Ended May 31 Planning Actual Budget Results Variances Customers served 20,000 21.000 $72.000 $75,800 $3.800 F 1,100 U 1,300 F Revenue ($3.60q). Expenses: Wages and salaries ($22,600 + $1.10q)... Supplies ($0.50q)........ Insurance ($4,600)...... Miscellaneous ($3,400 + $0.30q)....... Total expense. Net operating income.. 44,600 10,000 4,600 9.400 68,600 $3,400 45,700 8,700 4,600 8.100 67.100 $ 8.700 1.300 F 1.500 F $5,300 F Required: Prepare the company's flexible budget performance report for May. Label each variance as favorable unfavorable (U). Actual Results Rev & Spend Variance Flexible Budget Activity Variance Planning Budget Customers Served Revenue Expenses: Wages & Salaries Supplies Insurance Miscelleneous Total Expense Net Operating Income