Cicchett Corporation uses customers served as its measure of activity. The following report compares the pianning budget to the actual operating results for the month of December Variances 516,400 Ciebetti Corporation Comparison of Actual Results to Planning Budget For the Month Ended December 31 Actual Planning Results Budget Customer served 40,000 37,000 Revenge (55.19) $205, 100 $100,700 Expenses: Nages and salaries ($37,700 + 51.60) 105,400 96.900 Supplies ($0.19) 31,300 29,600 Insurance ($14,700) 15,250 14,700 Miscellaneous expense ($7,700 + $0.6) 33,750 29.900 Total expense 185,200 171, 100 Net operating Income $ 19,400 $ 17,600 8,500 1,700 550 3,350 14.600 $ 1,800 U U U U U F Required: Prepare the company's flexible budget performance report for Decembet. Select each variance as favorable (F), unfavorable (U) or "None" Ciechett Corporation Flexible Budget Performance Report Part 1 For the Month Ended December 31 Actual Revenue and Flexible Results Spending Variances Budget Customer served Expenses Net operating income Required: Prepare the company's flexible budget performance report for December. Select each variance as favorable (F), unfavorable (U) or "None" Cicchetti Corporation Flexible Budget Performance Report Part 1 For the Month Ended December 31 Actual Revenue and Results Spending Variances Customers served Flexible Budget Expenses Total expenses Net operating Income