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 se.se Electricity 31,500 se.06 Maintenance $0.20 Wages and solaries $4,500 50.20 Depreciation $8,200 $1,900 Administrative expenses $1,400 $0.04 Rent For example, electricity costs should be $1,500 per month plus $0.06 per car washed. The company expects to wash 8,300 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 3,400 Revenue $ 51,070 Expenses Cleaning supplies 4,650 Electricity Maintenance 1,900 Wages and salaries 6,520 Depreciation 8,200 Rent 2,100 Administrative expenses 11632 Totol expense 26,920 Net operating income $ 24,100 1,968 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 (.e., zero varlance). Input all amounts os positive values.) 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 verlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Results Flexible Budget Planning Budget Cars washed 8,400 Revenue $ 51,0701 Expenses Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 4,650 1.968 1,900 6,520 8.2001 2.100 1,632 26,970 24,100 $