Arrasmith Corporation uses customers served as its measure of activity. During February, the company budgeted for 37,000 customers, but actually served 27,000 customers. The company uses the following revenue and cost formulas in its budgeting, where qis the number of customers served: Revenue: $5.500 Wages and salaries: $35,200 $1709 Supplies: $1109 Insurance: $12.400 Miscellaneous expenses: $8.400 + $0.500 The company reported the following actual results for February Mages and salaries Supplies Insurance Miscellaneous expense $150,00 $ 20,000 $ 16,400 12,400 $ 2,700 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 effectie, zero variance). Input all amounts as positive volues.) Arrasmith Corporation Flexible Budget Performance Report For the Month Ended February 28 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 Planning Actual Results Revenue and Spending Variances Flexible Budget Activity Variances Customers served 27.000 27 000 37.000 Revenue Expenses Wages and salarios Supplies Insurance Miscellaneous expense Total expense Not operating income