Cicchetti Corporation uses automer served as its measure of dirty theo the planning budget to the actual operating results for the month of December Customers served Revenue (3.600) 26,000 25,000 93,700 $90.000 $ 3.700 F Expenses Wages and salaries ($22,500 + $1.159) Supplies ($0.559) Insurance ($4.400) Miscellaneous expense ($3,400 + $.359) 52,400 12.350 4,400 10,750 51 250 13,750 4,400 12.150 1.150 U 1.400 F 0 1,400 F Total expense 79,900 81,550 1,650 F Net operating income $ 13,800 $ 8,450 $ 5,350 F Required: 1. Prepare a report showing the company's revenue and spending variances for December (Indicate the effect of each variance by selecting "F" for favorable, run for unfavorable, and "None" for no effect (Le., zero variance).) CICCHI CORPORATION Revenue and spending Variatice For the Month Ended December 31 Actual Revenue and spending Results VEGAS 26,000 Flexible Budget Customers served Revenue 93,700 Expenses 52 400 Wages and salaries Supplies 12,350 Insurance 4,400 Miscellaneous expense 750 Total expense 79,900 Net operating income GA 13.800