Cicchetti 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 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: Variances $16,400 F Cicchetti Corporation Comparison of Actual Results to Planning Budget For the Month Ended December 31 Actual Planning Results Budget Customers served 40.000 37.000 Revenue ($5.19) $205,100 $188,700 Expenses: Wages and salaries ($37,700 + $1.69) 105,400 96,900 Supplies ($0.89) 31,300 29,600 Insurance ($14,700) 15,250 14,700 Miscellaneous expense ($7,700 + $0.69) 33,750 29,900 Total expense 185,700 171, 100 Net operating income $ 19,400 $ 17,600 8,500 1,700 550 3,850 14,600 $ 1,800F U U U 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 Results Revenue and Spending Variances Flexible Budget Customers served Expenses: Total expenses Net operating income Cicchetti Corporation Flexible Budget Performance Report Part 2 For the Month Ended December 31 Flexible Budget Activity Variances Planning Budget Customers served Expenses: Total expenses Net operating income