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: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Fixed Cost Cost per per Month Car Washed $ 0.50 $ 1,200 $ 0.07 $ 0.20 $ 4,900 $ 0.20 $ 8,300 $ 1,900 $ 1,700 $ 0.02 For example, electricity costs should be $1,200 per month plus $0.07 per car washed. The company expects to wash 8,100 cars in August and to collect an average of $5.90 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 8,200 Revenue $ 49,890 Expenses : Cleaning supplies 4,550 Electricity 1,737 Maintenance 1,860 Wages and salaries 6,880 Depreciation 8,300 Rent 2,100 Administrative expenses 1,762 27,189 Net operating income $ 22,701 Total expense Required: Calculate the company's revenue and spending variances for August. (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.)