Bickel Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actuat operating results for the month of November Variances Bikel Corporation Comparison of Actual results to Planning Budget For the Month Inded November 10 Lotusi Planning Results Budget Customer served 26,000 25,000 Revenue (1.60) 093.200 590.000 Expenses Wages and salaries (622,500 $1.154) 52,400 51.250 Supplies (30.55) 12.350 13.750 Insurance (54,400) 4.400 4.400 Miscellaneous expense (0),400.00.35) 10.150 12,150 Total expense 79.900 31.550 Net operating Income 13,300 58.450 $3,200 1.150 1.400 0 None 2.400 1,650 $4,850 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 "P" for favorable. "U" for unfavorable, and "None" for no effect (le, zero variance). Input all amounts as positive values.) Required: Prepare the company's nexible budget performance report for November, Labet 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 (ie, 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 26.000 26.000 Planning Budget 25,000 Customer served Revenue Expenses Wages and salaries Supplies Insurance Miscellaneous expense Total expense Not operating income