Exercise 9-14 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 company's costs: Fixed Cost per Month $1,300 Cost per Car Washed $0.80 $8.08 50.25 50.40 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses eBook $4,800 $8,300 $2.000 $1,300 $8.03 For example, electricity costs are $1,300 per month plus $0.08 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.30 per car washed. The actual operating results for August appear below. Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,300 $ 53,760 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 7.060 1.926 2.290 8,440 8,300 2,200 1.446 31,662 $ 22,098 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 (i.e., zero variance). Input all amounts as positive values.) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Budget 8,300 Planning Budget Cars washed Revenue 53,760 rences Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent 7.000 1.926 2.290 8.440 8.300 2.200 1,446 31,6621 22,098 Administrative expenses Total expense Net operating income $