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 Component per Job $276 Actual Total for February $38,650 $ 8,150 $ 32 $ 9, 240 Revenue Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses $8,300 $4,600 $2,400 $1,620 $2,870 $ 970 $ 3 $ 2,700 $ 1,690 $ 2,870 $ 575 $ 2 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 $9,240. The company expected to work 150 jobs in February, but actually worked 158 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.) MITSVCI is compicLC VUL TUL CITLII Cry LumTCLL. AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Revenue and Actual Flexible Spending Activity Planning Results Variances Budget Variances Budget 158 158 150 Jobs Revenue $38,650 $ 4,958 U $ 43,608 IF $ 41,400 2,208 8,150 413 F None 8,150 x 7,737X 9,656 9,240 416 F 256U 9,400 2,700 174F 24U 2,850 2,874 1,620 1,690 70U None 1,620 Expenses: Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses Total expense Net operating income 2,870 None 2,870 None 575 711F SOS 1,286 16VU 2,870 1,270 26,160X $ 15,420X 25,225 818XF 818XU $ 26,043 X $ $ 17,656 $ 13,425 4,1408 4,140F