Lavage Rapide is a Canadian company that owns and operates a large automatic carwash facility near Montreal. The following table provides data concerning the company's costs Fixed Cost per Month Cleaning supplies Electricity Maintenance Wages and salaries Cost per Car Washed 0.60 0.10 $ 0.20 $0.40 $1,500 $4,200 $8,200 $1,900 $1,500 Rent Administrative expenses $0.04 For example, electricity costs are $1,500 per month plus $0.10 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.40 per car washed The actual operating results for August appear below Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed Revenue Expenses 8,400 S55,220 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses 5,480 2,300 1,900 7,880 8,200 2,100 1732 29,592 $25,628 Total expense Net operating income Required Complete the flexible budget performance report that shows the company's activity variances and revenue and spending 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 Spending Variances Activity Variances Revenue 55,220 Expenses: 5,480 2,300 1,900 u 7,880 U 8,200 2,100 1,732 Cleaning supplies Maintenance Wages and salaries Rent Administrative expenses 29,592 None 25,628U Total expense Net operating income