Cicchett 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 December Cicchetti Corporation Comparison of Actual Results to Planning Budget For the Month Ended December 31 Actual Planning Results Budget Variances Customer served 22,000 21,000 Revenue (3409) $ 75,200 $ 71,400 $ 3.800 F Expenses Wages and salaries ($22.100 - $1.119) Supplies (S0 519) Insurance ($4.000) Miscellaneous expense ($3,000 + $ 319) 46,520 9,710 4,000 8,510 45,410 10,710 4,000 9,510 1 1100 1,000 F 0 1.000 F Total expense 68 740 59.630 890 F Net operating income 6.460 $ 1.770 5 4.690 F Required: e a report showing the company's revenue and spending variances for December (Indicate the effect of ach variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effectie., zero Varianel) CICCHETTI CORPORATION Revenue and Spending Variances For the Month Ended December 31 Actual Revenue and Spending Results Variances 22 000 Customers served Flexible Budget $ 75 200 Revenue Expenses Wages and salanes Supplies Insurance Miscellaneous expense Total expense Net operating income 46.520 9.710 4,000 8,510 68 740 6.460 $