Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company's costs: Fixed Cost Cost per per Month Car Washed Cleaning supplies Electricity Maintenance Wages and salaries $5,000 Depreciation Rent Administrative expenses $0.50 $0.07 $0.25 $0.30 $1,100 $8,300 $2,200 $1,400 $0.03 For example, electricity costs are $1,100 per month plus $0.07 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6.20 per car washed. The actual operating results for August appear below Lavage Rapide Income Statement For the Month Ended August 31 8,600 Actual cars washed Revenue $54,800 Expenses: 4,750 1,665 2,365 Wages and salaries 7,910 8,300 2,400 Cleaning supplies Electricity Maintenance Depreciation Rent Administrative expenses 1,555 28,945 Net operating income $25, 855 Total expense 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 Actual Results Flexible Budget Planning Budget Cars washed 8,600 54,800 Revenue Expenses: 4,750 1,665 2,365 7,910 8,300 2,400 1,555 28,945 Net operating income 25,855 Cleaning supplies Electrici Maintenance Wages and salaries Depreciation Administrative expenses Total e se