Abbott Corporation uses customers served as its measure of activity. During December, the company budgeted for 38,000 customers, but actually served 40,000 customers. The company has provided the following data concerning the formulas used in its budgeting and its actual results for December: Data used in budgeting: Customer Variable Element per Fixed Element Month per $2.60 Revenue Wages and Salaries Supplies Insurance Miscellancous S0.80 $20,300 S0.50 7,500 S0.30 $3,700 Actual results for December $101,500 $52,000 $18,100 $9,400 $18,100 Revenuc.. Wages and salaries..... Supplies Insurance Miscellancous. Required: Prepare a report showing the company's activity and revenue and spending variances for December. Label each variance as favorable (F) or unfavorable (U)