Exercise 9-16 (Static) 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 Fixed Component per Month Variable Component per Job $ 360 Actual Total for february $18,950 $ 6,450 Technician wages $ 6,400 Mobile lab operating expenses $ 2,900 $ 35 $ 4,530 Office expenses $ 2 $ 3,050 Advertising expenses $ 995 Insurance $ 1,680 Miscellaneous expenses $ 3 $ 465 $ 2,600 $ 970 $ 1,680 $ 500 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $2,900 plus $35 per job, and the actual mobile lab operating expenses for February were $4,530. The company expected to work 50 jobs in February, but actually worked 52 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 Flexible Budget Jobs Revenue 52 $ 18.950 < Prev 3 of 3 Next > Planning Budget