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 $ 275 Revenue Technician wages Mobile lab operating expenses office expenses Advertising expenses Insurance Miscellaneous expenses $ 32 $ 4 $ 8,600 $ 4,900 $ 2,300 $1,570 $ 2,850 $ 950 Actual Total for February $ 33,000 $ 8,450 $ 8,900 $ 2,670 $ 1,640 $ 2,850 $ 515 $ 2 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 $8,900. The company expected to work 130 jobs in February, but actually worked 140 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 Revenue and Flexible Results Spending Variances Budget 140 140 Activity Variances Planning Budget 130 Jobs $ 33,000 $ 5,500 U $ 38,500 $ 2.750 F $ 35,750 Revenue Expenses: 8,450 8,600 0 None 8,600 150 F 480 F 8,900 9,380 9,060 Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance 320 U 40 U 2,670 190F 2,860 2,820 1,640 70 U 1,570 0 None 1,570 2,850 o None 2,850 0 None 2,850 515 715 1,230 2010 1,210 Miscellaneous expenses Total expense Net operating income 25,025 7,105 F 26,490 3,130 U 26,110 $ 7,975 $ 12,010 F $ 9,640