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 Fixed Variable Component Component per Actual Total per Month Job for February Revenue $ 279 5 30,730 Technician wages 5 8,200 $ 8,050 Mobile lab operating expenses $.4,700 $ 33 $ 8,500 office expenses $ 2,200 $2 $ 2,290 Advertising expenses $ 1,570 $1,640 Insurance $ 2,850 $ 2,550 Miscellaneous expenses 5960 $385 The company uses the number of jobs as its measure of activity For example, mobile lab operating expenses should be 54 700 plus $33 per job, and the actual mobile lab operating expenses for February were $8.500. The company expected to work 120 jobs in February, but actually worked 130 jobs. Required: Prepare a flexible budget performance report showing Air Qual Test Corporation's revenue and spending variances and activity variances for February (Indicate the effect of each variance by selecting for fovorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts os positive values.) 51 Air Qualitat Corporation Flexible Budget Performance Repon For the Month Ended February 20 Actual Risults Flexible Budget Planning Budget 130 $ 30,730 Jobs Revenue Expenses Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses Total expense Net operating income 8,050 8,500 2.290 1,640 2,850 385 23,715 $ 7,015