Exercise 9-14 (Algo) Prepare a Flexible Budget Performance Report [L09-4) a Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company's costs: Fixed Cost Cost per per Month Car Washed Cleaning Supplies 50.70 Electricity $1,500 $0.os Maintenance $0.20 Wages and salaries $5,000 $0.20 Depreciation $8,400 Rent $1,900 Administrative expenses $1,600 $0.01 For example, electricity costs are $1.500 per month plus $0.05 per car washed. The company expects to wash 8.500 cars in August and to collect an average of $6.30 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 3,600 Revenue $ 55,650 Expenses Cleaning supplies Electricity 1, Maintenance 1.90 Waites and salaries 7,060 Depreciation Rent 2.100 Administrative expenses 1.555 Total expense 29,10 Net operating income $26,220 Required: Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect fie., zero variance). Input all amounts as positive values.) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Budget 8 600 Planning Budget Cars washed Revenue $ 55 650 Expenses Cleaning supplies Electricity Maintenance Wages and salanes Depreciation Rent Administrative expenses Total expense Not operating income 6.450 1 895 1.940 7,060 3.400 2.100 1 585 29 430 20 220 $