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 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Fixed Cost per Month $ 0.80 $ 1,200 $ 0.08 $ 0.20 $ 4,700 $ 0.30 $ 8,200 $ 2,200 $ 1,400 $ 0.02 For example, electricity costs should be $1,200 per month plus $0.08 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.90 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 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income Required: 8,300 $ 58,680 7,060 1,826 1,880 7,520 8,200 2,400 1,464 30,350 $ 28,330 Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances for August. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.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 8,300 $ 58,680 Expenses: Cleaning supplies 7,060 Electricity 1,826 Maintenance 1,880 Wages and salaries 7,520 Depreciation 8,200 Rent 2,400 Administrative expenses 1,464 Total expense 30,350 Net operating income $ 28,330 Flexible Budget Planning Budget