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 38,000 36,000 Revenue ($4.99) $187,200 $176,400 $10,800F Expenses: Wages and salaries ($37,500 + $1.79) 105,600 98,700 6.900 U Supplies ($0.6) 22,200 21,600 600 U Insurance ($14,500) 14,950 14,500 450 U Miscellaneous expense ($7,500 + $0.40) 24,650 21,900 2,750 U Total expense 167,400 156,700 10.700 U Net operating income $ 19,800 S 19.700 $ $ 100 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 Revenue and Flexible Results Spending Variances 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 Net operating income