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 Variable Job Component Component per Actual Total for February per Month Revenue Technician wages office expenses $377 $ 33,260 $ 8,400 $ 8,250 Mobile lab operating expenses $ 4,900 $38 $ 2,800 $2 $8,640 $2,910 Advertising expenses $1,610 $ 1,680 Insurance Miscellaneous expenses $ 2,880 $960 $2,800 $2 $525 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,900 plus $30 per job, and the actual mobile lab operating expenses for February were $8,640. The company expected to work 130 jobs in February, but actually worked 138 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 Jobs Revenum Actual Results 138 Flexible Planning Budget Budget 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. Component. Component per actual Total Variable Job $277 for February Revenue Technician wages Office expenses $33,260 $ 8,400 $8,50 Mobile lab operating expenses $ 4,500 $ 30 $8,640 $2,000 $2 $2,910 Advertising expenses $1,610 5 1,680 Insurance $2,500 Riscellaneous expenses $900 $ 2 $ 2,800 $525 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4.900 plus $30 per job, and the actual mobile lab operating expenses for February were $8.640. The company expected to work 130 jobs in February, but actually worked 138 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.) Jobs Revenue AirQual Test Corporation Flexible Budget Performance Report Actual Results For the Month Ended February 28 138 $ 33.260 Flexible Planning Budget Budget The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,900 plus $30 per job, and the actual mobile lab operating expenses for February were $8,640. The company expected to work 130 jobs in February, but actually worked 138 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 Jobs Actual Results 130 $ 33,260 Revenue Expenses Technician wages 8,250 Mobile lab operating expenses 8,640 Office expenses 2,910 Advertising expenses 1,680 Insurance 2,880 Miscellaneous expenses Total expense Net operating income 525 24.885 $ 8.375 Flexible Planning Budget Budget The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,900 plus $30 per job, and the actual mobile lab operating expenses for February were $8,640. The company expected to work 1:30 jobs in February, but actually worked 138 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending varlances and activity variances for February (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie., zero variance). Input all amounts as positive values.) Jobs Revenue AirQual Test Corporation Flexible Budget Performance Raport For the Month Ended February 20 Actual Results 138 $ 33,200 Expenses Technician wages 8,250 Mobile lab operating expenses 8,640 Office expenses 2,910 Advertising expenses 1,680 Insurance 2,880 Miscutaneous expenses tal expense operating income 525 24,885 $ 8,375 Flexible Planning Budget Budget