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 $19,350 Cicchetti Corporation Comparison of Actual Results to Planning Budget For the Month Ended December 31 Actual Planning Results Budget Customers served 41.299 37.509 Revenue ($5.29) $ 214,350 $ 195,000 Expenses: Wages and salaries ($37,880 + $1.79) 111,300 101,550 Supplies ($0.99) 36.159 33,750 Insurance ($14, 800) 15,409 14.899 Miscellaneous expense ($7,809 + $0.49) 26.389 22.800 Total expense 189.150 172.900 Net operating income $ 25,200 $ 22.100 U 9,750 2,400 600 3,500 16,258 3,100 U U U F $ Requlred: 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