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 for February Job per Month $27,610 $8,350 $8,170 $ 2,780 $ 1,660 $ 2,850 $ $276 Revenue Technician wages Mobile lab operating expenses Office expenses Advertising expenses $ 8,500 $4,700 $ 2,600 $1,590 $2,850 $ $33 $ 3 Insurance Miscellaneous expenses $ 960 1 375 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,700 plus $33 per job, and the actual mobile lab operating expenses for February were $8,170. The company expected to work 110 jobs in February, but actually worked 116 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 Revenue and Flexible Planning Budget Activity Variances Results Spending Variances Budget Jobs 116 $ 27,610 Revenue Expenses: Technician wages 8,350 Mobile lab operating 8,170 expenses Office expenses 2,780 Advertising expenses 1,660 Insurance 2,850 Miscellaneous expenses 375 Total expense 24,185 $3,425 Net operating income