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 Job for February Revenue Technician wages office expenses $ 280 $ 30,850 $ 8,100 $ 7,950 Mobile lab operating expenses $ 4,900 $ 31 $ 8,460 $ 2,500 $ 2 $ 2,590 Advertising expenses Insurance $ 1,610 $ 2,890 $ 1,680 Miscellaneous expenses $ 970 $ 1 $ 2,890 $ 395 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 $8,460. The company expected to work 120 Jobs in February, but actually worked 126 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 (l.e., zero varlance). Input all amounts as positive values.) Answer is not complete. AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Jobs Actual Results Revenue and Spending Variances 126 $30,850 Flexible Budget Activity Variances Planning Budget 126 120 U $ 35,280 F Revenue Expenses: Technician wages 7,950 F 8,226 0 None Mobile lab operating expenses 8,460 F 8,806 U Office expenses 2,590 F 2,752 U Advertising expenses 1,680 U 1,610 0 None Insurance 2,890 0 None 2,890 0 None Miscellaneous expenses 395 F 1,096 U Total expense 23,965 F U Net operating income $ 6,885 U F