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: Cleaning supplies. Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Fixed Cost per Month Cost per Car Washed $ 0.50 $ 1,100 $ 0.05 $0.25 $ 4,200 $ 0.30 $ 8,400 $ 2,100 $1,600 $0.03 For example, electricity costs should be $1,100 per month plus $0.05 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6.60 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual care vashed Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 8,600 $ 58,200 4,750 1,495 2,365 7,110 8,400 2,300 1,755 28,175 $30,025 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 (ie., zero variance). Input all amounts as positive values.) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Cars washed Actual Results 8,600 $ 58,200 Revenue Expenses Cleaning supplies 4,750 Electricity 1,495 Maintenance 2,365 Wages and salaries 7,110 Depreciation 8,400 Rent 2,300 Administrative expenses 1,755 Total expense 28,175 Net operating income $ 30,025 Flexible Planning Budget Budget Show All Items