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 $0.80 Electricity $1,400 $0.07 Maintenance se. 10 Wages and salaries 54,700 $0.20 Depreciation $8,200 Rent $2,200 Administrative expenses $1,500 $0.03 For example, electricity costs should be $1.400 per month plus $0.07 per car washed. The company expects to wash 8,100 cars in August and to collect an average of $6.30 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 8,200 Revenue 553,130 Expenses: Cleaning supplies 6,980 Electricity 1,937 Maintenance 1,050 Wages and salaries 6,650 Depreciation 8,200 Rent 2,400 Administrative expenses 1.643 Total expense 280.00 Net operating incone 524,240 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 (le, zero variance). Input all amounts as positive values.) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Budget Planning Budget Cars washed 8,200 $ 53,130 6,980 1,937 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 1,050 6,680 8,200 2,400 1.643 28,890 24,240 $