Exercise 9-16 (Algo) Flexible Budget Performance Report [LO9-1, LO9-2, LO9-3, LO9-4] AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February Revenue Technician wages) office expenses Fixed Component per Month Variable Component per Job $ 276 Actual Total for February $ 38,650 $7.950 $ 8,100 Mobile lab operating expenses $ 4,800 $ 2,200 $ 3 $5 $ 9,290 Advertising expenses $ 1,590 $2,500 $1,660 Insurance Miscellaneous expenses $1 $ 2,880 $ 395 $ 2,880 $940 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,800 plus $31 per job, and the actual mobile lab operating expenses for February were $9,290. The company expected to work 150 jobs in February, but actually worked 152 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity variances for February. (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.) AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Results Revenue and Spending Variances Flexible Budget Activity Variances Planning Budget 152 Jobs Revenue Expenses $ 38,650