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 Revenue Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses $ 8,500 $ 5,000 $ 2,300 $ 1,600 $ 2,870 $ 940 Variable Actual Total Component per Job for February $ 278 $ 36,170 $ 8,350 $ 31 $ 9,180 $ 3 $ 2,570 $ 1,670 $ 2,870 $ 2 $ 525 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $5,000 plus $31 per job, and the actual mobile lab operating expenses for February were $9,180. The company expected to work 140 jobs in February, but actually worked 144 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.) AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Results Flexible Budget Planning Budget Jobs 144 $ 36,170 8,350 9,180 Revenue Expenses: Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses Total expense Net operating income 2,570 1,670 2,870 525 25,165 $ 11,005