Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company's costs: Fixed Coat per Month Cleaning supplies Electricity $1,400 Cost per Car Washed $0.60 SO.07 $0.25 $0.30 Wages and salaries Depreciation Rent Administrative expenses $4,200 $3,300 $2,200 $1,600 For example, electricity costs are $1,400 per month plus $0.07 per car washed. The company expects to wash 8,000 cars in August and to collect an average of $6.10 per car washed. The actual operating results for August appear below Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 3.100 $ 50, 900 Expenses: Cleaning supplies Electricity Maintenance Hages and salaries Depreciation 5,300 1.930 2,240 6.960 0.300 ministrative expenses Total expense Het operating in.com 20,670 22,030 Required: Prepare a flexible budget performance report that shows the companys revenue and spending variances and activity variances for August (indicate the effect of each variance by selecting variance). Input all amounts as positive values.) for favorable. "U" for unfavorable, and "None" for no effect (i.e., zero 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 8,100 Planning Budget Cars washed Revenue 50,900 Expenses Cleaning supplies Electricity 5,300 1.930 Maintenance 2,240 Wages and salaries 6.960 1 Depreciation Rent Administrative expenses Total expense Net operating income 8,300 2,400 1.740 28,870 22,030