Answer and explain

Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company's costs: For example, electricity costs are $1,100 per month plus $0.07 per car washed. The company expects to wash 8,000 cars in August and to collect an average of $6.60 per car washed. The actual operating results for August appear below. Required: Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances for August. (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.) Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company's costs: For example, electricity costs are $1,100 per month plus $0.07 per car washed. The company expects to wash 8,000 cars in August and to collect an average of $6.60 per car washed. The actual operating results for August appear below. Required: Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances for August. (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.)