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 Actual Planning Results Budget Variances Customers served 44,000 43,000 Revenue (3.60q) $158,100 $154,800 $ 3,300 F Expenses: Wages and salaries ($24,300 + $1.33q) Supplies ($0.73q) Insurance ($6,200) Miscellaneous expense ($5,200 + $.42q) Total expense Net operating income 82,820 81,490 1,330 U 29,790 6,200 31,390 6,200 1,600 F 0 23,100 23,260 160 F 141,910 142,340 430 F $ 16,190 $ 12,460 $ 3,730 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, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) CICCHETTI CORPORATION Revenue and Spending Variances For the Month Ended December 31 Actual Flexible Revenue and Spending Variances Results Budget Customers served 44,000 Revenue $158,100 Expenses: Wages and salaries 82,820 Supplies 29,790 Insurance 6,200 Miscellaneous 23,100 expense Total expense 141,910 Net operating income $16,190 U 0 0 None F None F F F 0 $0