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 Cost per per Month Car Washed Cleaning supplies $0.50 Electricity $1,200 $0.08 Maintenance $0.25 Wages and salaries $4,300 $0.30 Depreciation $8,200 Rent $2,100 Administrative expenses $1,800 $0.92 For example, electricity costs should be $1,200 per month plus $0.08 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6,40 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 $ 56,500 Revenue Expenses: Cleaning supplies 4,750 For example, electricity costs should be $1,200 per month plus $0.08 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6.40 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 $56,500 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 4,750 1,850 2,365 7,210 8,200 2,300 1,870 28,545 $ 27,955 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 (t.e., zero variance). Input all amounts as positive values.) Check my work 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 Rapido Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Activity Variances Budget Revenue and Spending Variances Planning Budget Cars washed 8,600 $ 56,500 Revenue Expenses Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 4.750 1,850 2.365 7210 8,200 2,300 1,870 28,545 27,955 $