Faggs Corporation bases its budgets on the activity measure customers served. During December, the company planned to serve 33,000 customers, but actually served 36,000 customers. The company has provided the following data concerning the formulas it uses in its budgeting: Fixed clement per month Revenue Wages and salaries Supplies Insurance Miscellaneous..... $28.800 SO $6,500 $4.300 Variable clement per customer $2.70 $0.70 $0.50 $0.00 $0.20 Required: Prepare a report using the template provided below to show the company's activity variances for December. Indicate in each case whether the variance is favorable (F) or unfavorable (U). (An example of revenue is already calculated for you) (20 POINTS) Faggs Corporation Activity Variances For the Month Ended December 31 Planning Budget 33,000 Flexible Budget 36,000 Activity Variances Customers served (9) $89.100 $97,200 $8.100 F Revenue ($2.709) Expenses Wages and salaries Supplies Insurance Miscellaneous Total expense Net operating income