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 Actual Planning Results Budget Variances Customers served 32,000 Revenue ($5.2q) $167,100 28,500 $148,200 $18,900 F Expenses: Wages and salaries ($36,900 + $1.4q) 84,600 76,800 7,800 U Supplies ($0.8g) 25,300 22,800 2,500 U Insurance ($13,900) Total expense Net operating income 14,050 13,900 150 U Miscellaneous expense ($6,900 + $0.5g) 24,550 21,150 3,400 U 148,500 134,650 13,850 U $ 18,600 $ 13,550 $ 5,050 F 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 Planning Activity Variances Budget Customers served Expenses: Total expenses Net operating income