Arrasmith Corporation uses customers served as its measure of activity. During February, the company budgeted for 36,100 custo but actually served 27,900 customers. The company uses the following revenue and cost formulas in its budgeting, where q is the number of customers served: Revenue: $4.60g Wages and salaries: $34,300 + $1.439 Supplies: $0.83 Insurance: $11,500 Miscellaneous expenses: $7,500 + $0.419 The company reported the following actual results for February Revenue Wages and salaries Supplies Insurance Miscellaneous expense $141,800 $ 69,100 $ 15,500 $ 11,500 $ 23, 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.) 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 Results Revenue and Spending Variances Spending Flexible Budget Flexible Activity Varaiances veretites Planning Budget 27,900 27,900 36,100 Customers served Revenue Expenses: Wages and salaries Supplies Insurance Miscellaneous expense Total expense Net operating income