index.html?_con con&external_browser0&launchurahttps%253A%252F%252Fims.mheducation.com%252Fmghmiddleware%252Fmheproducts%252F 9 Homework Saved Exercise 9-17 Flexible Budget Performance Report (L09-1, LO9-2, LO9-3, L09-4) 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 Component per Actual Total per Month Job for February Revenge $ 277 $ 30,000 Technician wages $ 8,000 $ 7,850 Mobile lab operating expenses $ 30 $ 9,940 office expenses $ 2,200 $ 2,500 Advertising expenses $ 1.580 $1,650 Insurance $ 2,890 $ 2,890 Miscellaneous expenses $ 950 $ 555 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,600 plus $30 per job, and the actual mobile lab operating expenses for February were $8,940. The company expected to work 150 jobs in February, but actually worked 156 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 "P" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Flexible Results Budget 156 Planning Budget Jobs $ 38,800 Revenue Expenses Technician wages 7.850 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,600 plus $30 per job, and the actual mobile lab operating expenses for February were $8,940. The company expected to work 150 jobs in February, but actually worked 156 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.) AlrQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Flexible Results Budget 156 Planning Budget Jobs $ 38,800 7,850 8,940 Revenue Expenses: Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses Total expense Net operating income 2,500 1,650 2,890 555 24,385 $ 14,415