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 Component Component per Actual Total per Month Revenue Job $ 279 for February $ 36,310 Technician wages $ 8,000 $ 7,850 Mobile lab operating expenses $ 4,600 $ 33 $ 9,060 office expenses $ 2,600 $ 3 $ 2,870 Advertising expenses $ 1,600 $ 1,670 Insurance $ 2,880 Miscellaneous expenses $ 950 $ 1 $ 2,880 $ 395 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,600 plus $33 per job, and the actual mobile lab operating expenses for February were $9,060. 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 lohe Results 111 Flexible Planning Budget Budget 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 Jobs Actual Results 144 $ 36,310 Revenue Expenses: Technician wages 7,850 Mobile lab operating expenses 9,060 Office expenses 2,870 Advertising expenses 1,670 Insurance 2,880 Miscellaneous expenses Total expense Net operating income $ 11,585 395 24,725 Flexible Planning Budget Budget