Arrasmith Corporation uses customers served as its measure of activity. During February, the company budgeted for 36,200 customers, but actually served 27,800 customers. The company uses the following revenue and cost formulas in its budgeting, where q Is the number of customers served: Revenue: $4.70q Wages and salaries: $34,400 + $1.46q Supplies: $0.86q Insurance: $11,600 Miscellaneous expenses: $7,600 + $0.42q The company reported the following actual results for February. Revenue $ 143, 808 Wages and salaries $ 69, 208 Supplies $ 15, 608 Insurance $ 11, 608 Miscellaneous expense $ 23, 708 Required: Prepare the company's flexible budget performance report for February. Label each variance as favorable (F) or unfavorable (U). Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance). 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 Budget Activity Variances Variances Budget Customers served 27,800 27,800 36,200 Revenue 5 $ 13, 140 $ 130,660 143,800 F Expenses Wages and salaries Supplies Insurance Miscellaneous expense Total expense Net operating income