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: $4.300 Wages and salaries: $34,000 + $1.349 Supplies: $0.749 Insurance: $11,200 Miscellaneous expenses: $7,200 + $0.389 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 (i.e., zero variance). Input all amounts as positive values.) Arrasmith Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Results Revenue and Spending Variances Flexible Budget Activity Variances Planning Budget 29,200 29,200 35,800 Customers served Revenue Expenses: Wages and salaries Supplies Insurance Miscellaneous expense Total expense Net operating income