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 Cost per Month Cost per Car Washed Cleaning supplies Electricity Maintenance $0.50 $1,200 $0.06 $0.25 Wages and salaries $4,100 $0.20 Depreciation $8,500 Rent $2,100 Administrative expenses $1,600 $0.01 For example, electricity costs are $1,200 per month plus $0.06 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.40 per car washed. The actual operating results for August appear below. Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,500 Revenue $55,860 Expenses: Cleaning supplies 4,700 Electricity 1,674 Maintenance 2,340 Wages and salaries 6,140 Depreciation 8,500 Rent 2,300 Administrative expenses 1,584 Total expense 27,238 Net operating income $28,622 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.) Cars washed Revenue Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Results 8,500 $ 55,860 Expenses: Cleaning supplies 4,700 Electricity 1,674 Maintenance 2,340 Wages and salaries 6,140 Depreciation 8,500 Rent 2,300 Administrative expenses 1,584 Total expense 27,238 Net operating income $ 28,622 Flexible Planning Budget Budget