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: Variable Fixed Component Component per Actual Total per Month Job s 277 Revenue Technician wages Mobile lab operating expenses Office expenses Advertising expenses insurance Miscellaneous expenses $8,500 $ 4,700 2,300 1,570 $2,860 $ 950 for February $33,260 $8,350 $ 8,700 $ 2,410 $1,640 $ 2,860 $385 $ 32 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,700 plus $32 per job, and the actual mobile lab operating expenses for February were $8,700. The company expected to work 130 jobs in February, but actually worked 134 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 Results 134 Flexible Budget Planning Budget 130 Jobs 134 Revenue $33,260 4,700 U $ 36,564 X S 554 x F $ 36,010 Expenses 8,350 8,700 2,410 1,640 2,860 385 24,345 $8,915 0None Technician wages Mobile lab operating Office expenses Advertising expenses Insurance Miscellaneous expenses 8,500 8,924 2,794 1,570 2,860 1,052 25,400 8,500 8,860 2,790 1,570 2,860 1,050 25,330 $ 10,680 150 F expenses 156 X F 0None 0 None 70 U 0 None 1,255 F 2,149 x Total expense Net operating income $ 11,164 x S 484x F