Exercise 9-14 (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 data concerning the companys costs: Fixed Cost per Month Cost per Car Washed Cleaning supplies $ 0.60 Electricity $ 1,100 $ 0.10 Maintenance $ 0.15 Wages and salaries $ 4,900 $ 0.30 Depreciation $ 8,100 Rent $ 2,200 Administrative expenses $ 1,800 $ 0.03 For example, electricity costs are $1,100 per month plus $0.10 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.00 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 $ 51,300 Expenses: Cleaning supplies 5,420 Electricity 1,890 Maintenance 1,470 Wages and salaries 7,720 Depreciation 8,100 Rent 2,400 Administrative expenses 1,946 Total expense 28,946 Net operating income $ 22,354 Required: Prepare a flexible budget performance report that shows the companys 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 (i.e., zero variance). Input all amounts as positive values.)