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 Cost per Car Month Washed Cleaning supplies $ 0.50 $ Electricity $ 0.05 1,500 Maintenance $ 0.15 Wages and salaries $ $ 0.20 4,200 $ Depreciation 8,100 $ Rent 2,000 Administrative $ 1,300 $ 0.04 expenses For example, electricity costs should be $1,500 per month plus $0.05 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 8,200 $ Revenue 53,130 Expenses: Cleaning supplies 4,550 Electricity 1,875 Maintenance 1,455 Wages and salaries 6,180 Depreciation 8,100 Rent 2,200 Administrative 1,524 expenses Total expense 25,884 $ Net operating income 27,246 Required: 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 (i.e., zero variance). Input all amounts as positive values. Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Planning Results Budget Budget Cars washed 8,200 Revenue $ 53,130 Expenses: Cleaning supplies 4,550 Electricity 1,875 Maintenance 1,455 Wages and salaries 6,180 Depreciation 8,100 Rent 2,200 Administrative 1,524 expenses Total expense Net operating income 25,884 $ 27,246