Exercise 9-13 (Algo) Prepare a Flexible Budget Performance Report [LO9-4] 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 companys costs: Fixed Cost per Month Cost per Car Washed Cleaning supplies $ 0.60 Electricity $ 1,300 $ 0.06 Maintenance $ 0.10 Wages and salaries $ 4,500 $ 0.40 Depreciation $ 8,400 Rent $ 2,000 Administrative expenses $ 1,700 $ 0.03 For example, electricity costs should be $1,300 per month plus $0.06 per car washed. The company expects to wash 8,200 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 8,300 Revenue $ 50,480 Expenses: Cleaning supplies 5,420 Electricity 1,762 Maintenance 1,060 Wages and salaries 8,140 Depreciation 8,400 Rent 2,200 Administrative expenses 1,846 Total expense 28,828 Net operating income $ 21,652

Required:

Prepare a flexible budget performance report that shows the companys revenue and spending variances and activity 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.