Fixed Cost per Cost per Car Washed Month cleaning supplies $ 0.70 Electricity $ 1,300 $ 0.06 Maintenance $ 0.25 Wagen and salaries i $ 4,700 $ 0.30 Depreciation $ 8,500 Rent $ 2,000 Administrative expenses $ 1,400 $ 0.04 For example, electricity costs should be $1,300 per month plus $0.06 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.80 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual care washed Revenue Expenses: Cleaning supplies. Electricity Maintenance Wages and salaries) Depreciation Rent Administrative expenses Total expense Net operating income Required: 8,500 $ 59,220 6,380 1,774) 2,340 7,580 8,500 2,200. 1,636 30,410 $ 28,810 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 (l.e.. zero Cars washed Revenue Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Results 8,500 $ 59,220 Expenses: Cleaning supplies 6,380 Electricity 1,774 Maintenance 2,340 Wages and salaries 7,580 Depreciation 8,500 Rent 2,200 Administrative expenses 1,636 Total expense 30,410 Net operating income $ 28,810 Flexible Planning Budget Budgot