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 $ 280 for February $ 28,050 Technician wages $ 8,500 $ 8,350 Mobile lab operating expenses $ 4,900 $ 31 $ 8,150 Office expenses $ 2,700 $ 3 $ 2,880 Advertising expenses $ 1,580 $ 1,650 Insurance $ 2,890 Miscellaneous expenses $ 970 $ 1 $ 2,890 $ 385 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,900 plus $31 per job, and the actual mobile lab operating expenses for February were $8,150. The company expected to work 110 jobs in February, but actually worked 114 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 Revenue Revenue and Actual Results Spending Variances 114 $28,050 U Flexible Planning Activity Variances Budget Budget 114 110 F Expenses: Technician wages 8,350 150 F 8,500 None 8,500 Mobile lab operating expenses 8,150 18 F U Office expenses 2,880 162 F U Advertising expenses 1,650 70 U 1,580 None 1,580 Insurance 2,890 0 None None Miscellaneous expenses 385 699 F U 1,084 x Total expense 24,305 36 F U x Net operating income $ 3,745 U F