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 per Month Cost per Car Washed Cleaning supplies Electricity Maintenance. Wages and salaries Depreciation Rent Administrative expenses $ 0.70 $1,100 $ 0.06 $ 0.10 $ 4,100 $ 0.30 $ 8,400 $ $ 2,000 1,700 $ 0.01 For example, electricity costs should be $1,100 per month plus $0.06 per car washed. The company expects to wash 8,100 cars in August and to collect an average of $6.10 per car washed. ces 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 Required: 8,200 $51,510 6,170 1,556 1,050 6,890 8,400 2,200 1,681 27,947 $ 23,563 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 (ie., zero variance). Input all amounts as positive values.) Cars washed Revenue Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Revenue and Flexible Results Spending Variances Budget Activity Variances Planning Budget 8,200 $ 51,510 Expenses: Cleaning supplies 6,170 Electricity 1,556 Maintenance. 1,050 Wages and salaries 6,890 Depreciation 8,400 None None Rent 2,200 None None Administrative expenses 1,681 Total expense 27,947 Net operating income $ 23,563