Fixed Cost Cost per per Car Month Washed Cleaning supplies $ 0.50 $ Electricity $ 0.07 1,500 Maintenance $ 0.30 $ Wages and salaries $ 0.20 4,900 $ Depreciation 8,400 $ Rent 2,200 Administrative $ $ 0.02 expenses 1,500 For example, electricity costs should be $1,500 per month plus $0.07 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.20 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,400 $ Revenue 53,560 Expenses: Cleaning supplies 4,650 Electricity 2,051 Maintenance 2,730 Wages and salaries 6,920 Depreciation 8,400 Rent 2,400 Administrative 1,566 expenses Total expense 28,717 $ Net operating income 24,843 Required: Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances for August. (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.) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Revenue and Actual Spending Results Variances Cars washed 8,400 Revenue $ 53,560 Expenses: Cleaning supplies 4,650 Electricity 2,051 Maintenance 2,730 Wages and salaries 6,920 Depreciation 8,400 Rent 2,400 Administrative 1,566 expenses Total expense 28,717 Net operating income $ 24,843 Flexible Activity Budget Variances Planning Budget