Exercise 9-12 (Algo) Revenue and Spending Variances [LO9-3] Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Fixed Cost per Month Cost per Car Washed Cleaning supplies $ 0.80 Electricity $ 1,500 $ 0.06 Maintenance $ 0.15 Wages and salaries $ 4,700 $ 0.20 Depreciation $ 8,200 Rent $ 2,100 Administrative expenses $ 1,700 $ 0.04 For example, electricity costs should be $1,500 per month plus $0.06 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6.10 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,600 Revenue $ 53,950 Expenses: Cleaning supplies 7,300 Electricity 1,980 Maintenance 1,515 Wages and salaries 6,760 Depreciation 8,200 Rent 2,300 Administrative expenses 1,940 Total expense 29,995 Net operating income $ 23,955 Required: Calculate the company's revenue and spending variances for August. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values