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: Cost per Car Washed Fixed Cost per Month Cleaning supplies $ 0.80 Electricity $ 1,200 $ 0.15 Maintenance $ 0.20 Wages and salaries : $ 5,000 $ 0.30 Depreciation $ 6,000 Rent Administrative expenses $ 8,000 $4,000 $ 0.10 For example, electricity costs should be $1,200 per month plus $0.15 per car washed. The company expects to wash 9,000 cars in August and to collect an average of $4.90 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 8,800 Revenue $ 43,080 : Cleaning supplies 7,560 Electricity 2,670 Maintenance 2,260 Wages and salaries 8,500 Depreciation 6,000 Rent 8,000 Administrative expenses 4,950 Lavage Rapide Income Statement For the Month Ended August 31 Cleaning supplies Electricity Maintenance Actual cars washed Revenue Expenses: 8,800 $ 43,080 7,560 2,670 2,260 8,500 6,000 8,000 Administrative expenses 4,950 39,940 $ 3,140 Wages and salaries. Depreciation Rent Total expense Net operating income 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 Cars washed Revenue Actual Results 8,800 $ 43,080 Expenses: Cleaning supplies 7,560 Electricity 2,670 Maintenance: 2,260 Wages and salaries: 8,500 Depreciation 6,000 Rent 8,000 Administrative expenses 4,950 Total expense 39,940 Net operating income $ 3,140 Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Flexible: Budget Planning Budget