Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Fixed Cost per Month $ Cleaning supplies Electricity Maintenance Wages and salaries Cost per Car Washed $ 0.80 $ 0.05 $ 0.15 $ 0.20 1,100 Depreciation $ 4,600 $ 8,100 $ 1,900 $ Rent Administrative expenses $ 0.04 1,400 For example, electricity costs should be $1,100 per month plus $0.05 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6.90 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 8,600 $ Revenue 60,750 Expenses: Cleaning supplies 7,300 Electricity 1,495 Maintenance 1,515 Wages and salaries 6,660 Depreciation 8, 100 Rent 2,100 Administrative 1,640 expenses Total expense 28,810 $ Net operating income 31,940 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 Actual Flexible Results Budget 8,600 $ 60,750 Planning Budget Cars washed Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 7,300 1,495 1,515 6,660 8,100 2,100 1,640 28,810 $ 31,940