Bickel Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actual operating results for the month of November Bickel Corporation Comparison of Actual Results to Planning Budget For the Month Ended November 30 Actual Results Planning Budget Variances Customers served 38,000 37,000 Revenue ($3.589) $132,900 $129.500 $3,400 F Expenses: Wages and salaries ($23,700 + $1.274) 71,960 70,690 1,270 U Supplies ($0.679) 22,290 24,790 2,500 F Insurance (35,600) 5,600 5,600 @ None Miscellaneous expense (54,600 + $0.369) 15,420 17,920 2,500 Total expense 115,270 119,000 3,730 F Net Operating income $ 17,630 $ 10,500 $8,00 F Required: Prepare the company's flexible budget performance report for November 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 November 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.) Bickel Corporation Flexible Budget Performance Report For the Month Ended November 30 Revenue Actual and Flexible Results Spending Budget Variances 38,000 38,000 Activity Variances Planning Budget 37.000 Customers served Revenue Expenses Wages and salaries Supplies Insurance Miscellaneous expense Total expense Net operating income