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 Variable Fixed Component Component per Actual Total per Month Job for February Revenue $278 $27,830 Technician wages $ 8,300 $ 8,150 Mobile lab operating expenses $ 4,800 $ 32 $ 8,160 Office expenses $ 2,300 $ 2 $ 2,370 Advertising expenses $1,580 $1,650 Insurance $ 2,860 $ 2,860 Miscellaneous expenses $ 950 $ 1 $ 365 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,800 plus $32 per job, and the actual mobile lab operating expenses for February were $8,160. The company expected to work 110 jobs in February, but actually worked 116 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 (i.e., zero variance). Input all amounts as positive values.) AlrQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Revenue and Flexible Results Spending Variances Budget 116 116 Activity Variances Planning Budget Jobs 110 $ 27,830 8,150 8,160 Revenue Expenses Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses Total expense Net operating income 2,370 1,650 2,860 365 23,555 $ 4,275