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 $ 0.60 Electricity $ 1,000 $ 0.07 Maintenance $ 0.20 Wages and salaries $ 4,300 $ 0.30 Depreciation $ 8,100 Rent $ 1,900 Administrative expenses $ 1,600 $ 0.03 For example, electricity costs should be $1,000 per month plus $0.07 per car washed. The company expects to wash 8,100 cars in August and to collect an average of $6.30 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 8,200 $53,130 5,360 1,537 1,860 7,090 8,100 2,100 1,743 27,790 $ 25,340 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 Flexible Budget Performance Report For the Month Ended August 31 Cars washed Revenue Actual Results 8,200 $ 53,130 Expenses: Cleaning supplies 5,360 Electricity 1,537 Maintenance 1,860 Wages and salaries 7,090 Depreciation 8,100 Rent 2,100 Administrative expenses 1,743 Total expense 27,790 Net operating income $ 25,340 Flexible Planning Budget Budget