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: Required: Prepare the company's flexible budget performance report for December. Select each variance as favorable (F), unfavorable (U) or "None", Prepare the company's flexible budget performance report for December. Select each variance as favorable (F), unfavorable (U) or "None". \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ Cicchetti Corporation } \\ \hline & \begin{tabular}{c} Flexible \\ Budget \end{tabular} & Activity Variances & \begin{tabular}{c} Planning \\ Budget \end{tabular} \\ \hline & \begin{tabular}{c} Budget Performance Report Part 2 \\ \hline Customers served \end{tabular} & & \\ \hline Expenses: & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Total expenses & & & \\ \hline Net operating income & & & \\ \hline \end{tabular}