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: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Fixed Cost Cost per per Month Car Washed $ 0.80 $ 1,400 $ 0.07 $ 0.25 $ 4,400 $ 0.20 $ 8,300 $ 2,200 $ 1,400 $ 0.05 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 $5.90 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 8,209 Revenue $ 49,890 Expenses: Cleaning supplies 6.980 Electricity 1,937 Maintenance 2,265 Wages and salaries 6,380 Depreciation 8,300 Rent 2,400 Administrative expenses 1,705 Total expense 29,967 Net operating income $ 19,923 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 Flexible Results Budget Planning Budget 8,200 $ 49,890 Cars washed Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent 6,980 1.937 2,265 6,380 8,300 2,400 1,705 29.967 19.923 Administrative expenses Total expense Net operating income $