Arrasmith Corporation uses customers served as its measure of activity. During February, the company budgeted for 36,800 customers, but actually served 27.200 customers. The company uses the following revenue and cost formulas in its budgeting, where a is the number of customers served: Revenue: $5.300 Wages and salaries: $35,000 - $1.649 Supplies: $1049 Insurance: $12,200 Miscellaneous expenses: $8,200 $0.489 The company reported the following actual results for February Revenue Wages and salaries Supplies Insurance Miscellaneous expense $155,800 $ 69,800 $ 16,200 $ 12,200 $ 26,700 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 27,200 27,200 36,800 Customers served Revenue Expenses: Wages and salaries Supplies Insurance Miscellaneous expense Total expense Net operating income