Air Qual Test Corporation provides on-site alr quality testing services. The company has provided the following cost formulas and actual results for the month of February Revenue Technician wages Mobile lab operating expenses office expenses Advertising expenses Insurance Miscellaneous expenses Variable Fixed Component component per per Month Job $ 280 $ 8,500 $ 4,900 $ 32 $ 2,700 $ 4 $ 1,610 $ 2,880 $ 980 Actual Total for February $ 39,250 $8.50 $ 9,540 $ 3,150 $ 1,680 $ 2,880 $ 435 The company uses the number of jobs as its measure of activity. For example, mobile la operating expenses should be $4,900 plus $32 per job, and the actual mobile lab operating expenses for February were $9,540. The company expected to work 150 Jobs in February, but actually worked 158 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity variances for February (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Flexible Results Budget ERA Planning Budget AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Flexible Results Budget 158 Planning Budget Jobs Revenue $ 39,250 Expenses: Technician wages Mobile Tab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses Total expense Net operating income 8,350 9,540 3,150 1,680 2,880 435 26,035 $ 13,215 AirQual 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 Component per Month Variable Component per Job 5 280 Revenue Technician wages Mobile lab operating expenses office expenses Advertising expenses Insurance Miscellaneous expenses 5 8,500 $ 4,900 $ 2,700 $1,610 $ 2,880 $ 980 $ 32 $ 4 Actual Total for February $ 39,250 $ 8,350 $ 9,540 $3,250 $ 1,680 $ 2,880 $ 435 $1 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,900 plus $32 per job, and the actual mobile lab operating expenses for February were $9,540 The company expected to work 150 jobs in February, but actually worked 158 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity variances for February (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Flexible Results Budget Planning Budget
