Fixed Component Variable Component per Month per Job Actual Total for February Revenue $ 276 $ 35,890 Technician wages $ 8,500 $ 8,350 Mobile lab operating expenses $ 4,900 $ 34 $ 9,500 office expenses $ 2,600 $ 4 $ 3,010 Advertising expenses $ 1,580 $ 1,650 Insurance $ 2,900 $ 2,900 Miscellaneous expenses $ 960 $ 2 $ 545) The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,900 plus $34 per job, and the actual mobile lab operating expenses for February were $9,500. The company expected to work 140 jobs in February, but actually worked 148 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 Jobs Revenue Expenses: Actual Results 148 $ 35,890 Technician wages 8,350 Mobile lab operating expenses 9,500 Office expenses 3,010 Advertising expenses 1,650 Insurance 2,900 Miscellaneous expenses Total expense 545 25,955 Net operating income i $ 9,935 Flexible Planning Budget. Budget Fixed Component Variable Component per Month per Job Actual Total for February Revenue $ 276 $ 35,890 Technician wages $ 8,500 $ 8,350 Mobile lab operating expenses $ 4,900 $ 34 $ 9,500 office expenses $ 2,600 $ 4 $ 3,010 Advertising expenses $ 1,580 $ 1,650 Insurance $ 2,900 $ 2,900 Miscellaneous expenses $ 960 $ 2 $ 545) The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,900 plus $34 per job, and the actual mobile lab operating expenses for February were $9,500. The company expected to work 140 jobs in February, but actually worked 148 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 Jobs Revenue Expenses: Actual Results 148 $ 35,890 Technician wages 8,350 Mobile lab operating expenses 9,500 Office expenses 3,010 Advertising expenses 1,650 Insurance 2,900 Miscellaneous expenses Total expense 545 25,955 Net operating income i $ 9,935 Flexible Planning Budget. Budget