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 Cost per per Month Car Washed Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $ 0.60 $ 1,300 $ 0.08 $ 0.15 $ 4,800 $ 0.48 $ 8,500 $ 2,000 $ 1,800 $ 0.04 For example, electricity costs should be $1,300 per month plus $0.08 per car washed. The company expects to wash 8,300 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 cars washed Revenue Expenses: cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income Required: 8,400 $ 56,880 5,488 1,934 1,485 8,480 8,500 2,200 2,032 30,111 $ 26,769 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 (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 8,400 S 56,880 Expenses Cleaning supplies 5,480 Electricity 1,934 Maintenance 1,485 Wages and salaries 8,480 Depreciation 8,500 Rent 2,200 Administrative expenses 2,032 Total expense 30,111 Net operating income $ 26,769 Flexible Budget Planning Budget