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 Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $ 0.60 $ 1,200 $ 0.08 $ 0.30 $ 4,800 $ 0.40 $ 8,300 $ 2,200 $ 1,800 $ 0.05 For example, electricity costs should be $1,200 per month plus $0.08 per car washed. The company expects to wash 8,000 cars in August and to collect an average of $6.50 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 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 8,100 $ 54,100 5,300 1,810 2,640 8,360 8,300 2,400 2,100 30,910 $ 23,190 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. Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Cars washed Revenue Actual Results 8,100 $ 54,100 Expenses: Cleaning supplies 5,300 Electricity 1,810 Maintenance 2,640 Wages and salaries 8,360 Depreciation 8,300 Rent 2,400 Administrative expenses 2,100 Total expense 30,910 Net operating income $ 23,190 Flexible Planning Budget Budget