Arrasmith Corporation uses customers served as its measure of activity. During February, the company budgeted for 36,900 customers, but actually served 27,100 customers. The company uses the following revenue and cost formulas in its budgeting, where q is the number of customers served: Revenue: $5.40q Wages and salaries: $35,100 + $1.67q Supplies: $1.079 Insurance: $12,300 Miscellaneous expenses: $8,300 + $0.49q The company reported the following actual results for February: Revenue Wages and salaries Supplies Insurance Miscellaneous expense $157,800 $ 69,900 $ 16,300 $ 12,300 $ 27,200 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.) Arrasmith Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Results Revenue and Spending Variances Flexible Budget Activity Variances Planning Budget 36,900 27,100 Customers served 27.100 Revenue Expenses: Wages and salaries Supplies Insurance Miscellaneous expense Total expense Net operating income