Arrasmith Corporation uses customers served as its measure of activity. During February, the company budgeted for 35,300 customers, but actually served 32,200 customers. The company uses the following revenue and cost formulas in its budgeting, where q is the number of customers served: Revenue: $3.809 Wages and salaries: $33,500 + $1.199 Supplies: $0.59 Insurance: $10,700 Miscellaneous expenses: $6,700 + $0.339 The company reported the following actual results for February: Revenue Wages and salaries Supplies Insurance Miscellaneous expense $125,800 $ 68,300 $ 14,700 $ 10, 700 $ 19, 200 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 (i.e., zero variance). Input all amounts as positive values.) Arrasmith Corporation Flexible Budget Performance Report For the Month Ended February 28 Revenue and Actual Flexible Spending Results Budget Variances exible Activity Variances Activity Planning Budget Planting 32,200 32,200 35,300 Customers served Revenue Expenses: Wages and salaries Supplies Insurance Miscellaneous expense Total expense Net operating income