AirQual Test Corporation provides on-site air quality testing services. The company provided the following cost formulas and actual results for the month of February: Fixed Variable Component Component per Actual Total per Month Revenue Job $ 275 for February $ 30,250 Technician wages $ 8,200 $ 8,050 Mobile lab operating expenses $ 4,700 $ 32 $ 8,380 Office expenses $ 2,200 $ 3 $ 2,410 Advertising expenses $ 1,590 $ 1,660 Insurance $ 2,870 Miscellaneous expenses $ 950 $ 1 $ 2,870 $ 375 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 $8,380. The company expected to work 120 jobs in February but actually worked 124 jobs. Required: Prepare a flexible budget performance report for February. Note: 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 Revenue and Flexible Results Spending Variances Activity Variances Budget Planning Budget 124 124 120 $ 30,250 Jobs Revenue Expenses: Technician wages 8,050 Mobile lab operating expenses 8,380 Office expenses 2,410 Advertising expenses 1,660 Insurance 2,870 Miscellaneous expenses 375 Total expenses 23,745 Net operating income $ 6,505