Arrasmith Corporation uses customers served as its measure of activity. During February, the company budgeted for 36,300 customers, but actually served 27700 customers. The company uses the following revenue and cost formulas in its budgeting, where q is the number of customers served: Revenue: $4.80q Wages and salaries: $34,500 $1.49q Supplies: $0.89q Insurance: $11,700 Miscellaneous expenses: $7,700$0.43q The company reported the following actual results for February: $145,800 S 69,300 $ 15,700 $ 11,700 24,200 Revenue Wages and salaries Supplies Insurance Miscellaneous expense Required: Prepare the company's flexible budget performance report for February. Label each variance as favorable (F) or unfavorable (U) (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Input all amounts as positive values.) Arrasmith Corporation Flexible Budget Performance Report For the Month Ended February 28 Revenue and Actual Activity Variances Planning Budget Flexible Spending Variances Results Budget Customers served 27,700 27,700 36,300 Revenue Expenses: Wages and salaries Supplies Insurance Miscellaneous expense Total expense Net operating income