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: For example, electricity costs should be $1,300 per month plus $0.07 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6.10 per car washed. The actual operating results for August are as follows: Required: Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances for August. Note: 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. \begin{tabular}{|c|c|c|c|c|c|c|} \hline \multicolumn{7}{|c|}{ Lavage Rapide } \\ \hline \multicolumn{7}{|c|}{ Flexible Budget Performance Report } \\ \hline \multicolumn{7}{|c|}{ For the Month Ended August 31} \\ \hline & \multicolumn{2}{|c|}{\begin{tabular}{l} Actual \\ Results \end{tabular}} & \begin{tabular}{c} Revenue and \\ Spending Variances \end{tabular} & \multirow[t]{2}{*}{\begin{tabular}{l} Flexible \\ Budget \end{tabular}} & Activity Variances & \begin{tabular}{c} Planning \\ Budget \end{tabular} \\ \hline Cars washed & & 8,600 & & & & \\ \hline Revenue & $ & 53,950 & F & & F & \\ \hline \multicolumn{7}{|l|}{ Expenses: } \\ \hline Cleaning supplies & & 7,300 & Uu & & Uu & \\ \hline Electricity & & 1,865 & F & & & \\ \hline Maintenance & & 1,515 & & & & \\ \hline Wages and salaries & & 6,460 & & & & \\ \hline Depreciation & & 8,000 & None & & None & \\ \hline Rent & & 2,300 & u & & None & \\ \hline Administrative expenses & & 1,555 & F & & & \\ \hline Total expense & & 28,995 & u & & u & \\ \hline Net operating income & $ & 24,955 & F & & F & \\ \hline \end{tabular}