Crovo Corporation uses customers served as its measure of activity. During December, the company budgeted for 38,000 customers, but actually served 40,000 customers. The company has provided the following data concerning the formulas used in its budgeting and its actual results for December: Data used in budgeting: Variable element per customer $2.60 $0.80 $0.50 S0.00 S0.30 Fixed element per month Revenue Wages and salari.. Supplies Insurance Miscellaneous. .S20,300 S0 $7,500 S3,700 Actual results for December. Revenue Wages and salaries Supplies Insurance Miscellaneou S101,500 S52,000 S18,100 S9,400 S18,100 Required: Prepare a report showing the company's revenue and spending variances for December. Label each variance as favorable (F or unfavorable (U) TTT Paragraph Arial 3 (12pt) T