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 $ 277 Revenue Technician wages Mobile lab operating expenses office expenses Advertising expenses Insurance Miscellaneous expenses Actual Total for February $ 36,030 $ 7,950 $ 8,960 $ 2,910 $ 1,630 $ 2,880 $ 545 $ 8,100 $ 4,500 $ 2,500 $ 1,560 $ 2,880 $ 960 $ 33 $ 4. $ 2 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,500 plus $33 per job, and the actual mobile lab operating expenses for February were $8,960. The company expected to work 140 jobs in February, but actually worked 142 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 Revenue and Spending Variances Flexible Budget Planning Budget Jobs 142 Revenue $ 36,030 Expenses: Technician wages 7,950 Mobile lab operating expenses 8,960 Office expenses 2,910 Advertising expenses 1,630 Insurance 2,880 Miscellaneous expenses 545 Total expense 24,875 Net operating income $ 11,155