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 Customer served 46,000 45,000 Revenue ($3.60) $165.80 $162,00 Expenses Wages and salaries (524, see - $1.35) 86,500 85,250 1,350 U Supplies (50.759) 31,950 33,750 1, B2B Insurance ($6,400) 5,400 6,400 Miscellaneous expense ($5,000 - 50.444) 0 None 22.000 25,200 Total expense 1. ROOF 1450 150, 600 2.250 Net operating income $ 16,950 $ 11,400 55,550 Required: Prepare the company's flexible budget performance report for November Label each variance as favorable (F) or unfavorable (Ul. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.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 Activity Results Spending Budget Variances Variances 40,000 40,000 Planning Budget 45.000 Customers served Revenue Expenses Wages and salaries Supplies Insurance Miscellaneous expense Total pense Net operating income