Exercise 9-17 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: Variable Fixed Component per Actu al Total for February $33,520 $ 8,150 $ 8,770 $ 2,540 $ 1,68d0 $ 2,900 $ 365 Job $279 per Month Technician wages Mobile lab office expenacs Advertising expenses $ 8,300 $ 4,900 $ 2,300 $1,610 $ 2,900 $ 930 operating expenses $ 31 Miscellaneous expenses The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,900 plus $31 per job, and the actual mobile lab operating expenses for February were $8,770. The company expected to work 130 jobs in February, but actually worked 136 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.) Flexible Budget Performance Report For the Month Ended February 28 Planning Actual Results Flexible Jobs 136 Revenue $ 33,520 Expenses: 8,150 8.770 2,540 1,680 2,900 365 24,405 $ 9.115 Mobile lab operating Office expenses Miscellaneous expenses Total expense Net operating income