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 Cicchetti Corporation Comparison of Actual Results to Planning Budget For the Month Ended December 31 Planning BudgetVariances 35,000 Actual Results 40,000 Customers served Revenue ($4.8q) Expenses $192,400 $168,000 $24,400 F 95,800 31,500 13,300 20,300 160,900 10,800 U 3,800 U 400 U 3,350 U 18,350 U S 13,150 7,100 6,050 F 106,600 35,300 13,700 23,650 179,250 Wages and salaries ($36,300 $1.7q) Supplies (S0.9q) Insurance ($13,300) Miscellaneous expense ($6,300 0.4q) Total expense 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 Flexible Revenue and Results Spending Variances Budget Actual Customers served 40,000 40,000 192,400 evenue Expenses 106,600 35,300 13,700 23,650 106,600 ages and salaries pplies 13,700 nsurance iscellaneous expense Total expenses 179,250 (58,950) $ 13,150 120,300 Net operating income