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 Revenue Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses $ 8,500 $ 4,700 $ 2,500 $ 1,570 $ 2,870 $ 920 Variable Actual Total Component per Job for February $ 278 $ 30,610 $ 8,350 $ 30 $ 8,140 $ 4 $ 2,830 $ 1,640 $ 2,870 $ 2 $ 465 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,700 plus $30 per job, and the actual mobile lab operating expenses for February were $8,140. The company expected to work 120 jobs in February, but actually worked 124 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.) X Answer is not complete. AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Flexible Results Budget 124 124 Planning Budget Jobs Revenue $ 30,610 $ 3,862 U $ 34,472 $ 1,112F $ 33,360 8,350 7,500 X U 850 0 None 850 OO 8,140 280 8,420 120 U 8,300 Expenses: Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses 2,830 166 F 2,996 16 U 2,980 1,640 70 U 1,570 0 None 1,570 >> >>>>> 2,870 0 None 2,870 0 None 2,870 . 465 703 F 1,168 8 U 1,160 | C | C | Total expense 24,295 6,421 xlU 17,874 144 17,730 15,630 X Net operating income $ 6,315 $ 10,283 x10 $ 16,598 $ 968 $