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 Actual Total for February Revenue $ 276 $ 38,650 Technician wages $ 8,500 $ 8,350 Mobile lab operating expenses $ 4,900 $ 33 $ 9,690 Office expenses $ 2,500 $ 2 $ 2,650 Advertising expenses $ 1,580 $ 1,650 Insurance $ 2,890 $ 2,890 Miscellaneous expenses $ 950 $ 2 $ 555 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,900 plus $33 per job, and the actual mobile lab operating expenses for February were $9,690. The company expected to work 150 jobs in February, but actually worked 160 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporations 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.)

Prepare a flexible budget performance report showing AirQual Test Corporations 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	160
Revenue	$38,650
Expenses:
Technician wages	8,350
Mobile lab operating expenses	9,690
Office expenses	2,650
Advertising expenses	1,650
Insurance	2,890
Miscellaneous expenses	555
Total expense	25,785
Net operating income	$12,865