Arrasmith Corporation uses customers served as its measure of activity. During February, the company budgeted for 35,800 customers, but actually served 29,200 customers. The company uses the following revenue and cost formulas in its budgeting, where q is the number of customers served: Revenue: $4.30q Wages and salaries: $34,000 + $1.34q Supplies: $0.74q Insurance: $11,200 Miscellaneous expenses: $7,200 + $0.38q The company reported the following actual results for February: Revenue $ 135, 800 Wages and salaries $ 68, 800 Supplies $ 15, 200 Insurance $ 11, 200 Miscellaneous expense $ 21, 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 effect (l.e., zero variance). Input all amounts as positive values.)Arrasmith Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Revenue and Spending Flexible Planning Results Variances Budget Activity Variances Budget Customers served 29,200 29,200 35,800 Revenue Expenses: Wages and salaries Supplies Insurance Miscellaneous expense Total expense Net operating income