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 Actual Total Component per Job for February $278 Revenue $33,390 $ 8,150 Technician wages Mobile lab operating expenses $ 8,300 $4,600 $ 2,700 $32 $ 8,600 Office expenses $3 $ 2,940 Advertising expenses $ 1,590 $ 1,660 $ 2,890 Insurance $ 2,890 Miscellaneous expenses $ 960 S 395 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,600 plus $32 per job, and the actual mobile lab operating expenses for February were $8,600. The company expected to work 130 jobs in February, but actually worked 132 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporation's Tevenue 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 Revenue and Flexible Spending Variances Budget Activity Variances Planning Budget Jobs Actual Results 132 Jobs Revenue Expenses: Technician wages Mobile lab operating Office expenses Advertising expenses Insurance Miscellaneous expenses Total expense Net operating income expenses AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Revenue and Spending Variances Flexible Budget Actual Results 132 $ 33,390 8,150 8,600 2,940 1,660 2,890 395 24,635 $ 8,755 Activity Variances Planning Budget