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}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Cicchetti Corporation } \\ \hline \multicolumn{4}{|c|}{ Flexible Budget Performance Report Part 2} \\ \hline \multicolumn{4}{|c|}{ For the Month Ended December 31} \\ \hline & \begin{tabular}{l} Flexible \\ Budget \end{tabular} & Activity Variances & \begin{tabular}{l} Planning \\ Budget \end{tabular} \\ \hline \multicolumn{4}{|l|}{ Customers served } \\ \hline & & & \\ \hline \multicolumn{4}{|l|}{ Expenses: } \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Total expenses & 0 & 0 & 0 \\ \hline Net operating income & & & \\ \hline \end{tabular}