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 i Cleaning supplies Electricity Maintenance $0.60 $1,400 $0.08 $0.30 Wages and salaries $4,500 $0.30 Depreciation $8,400 Rent $2,000 Administrative expenses $1,700 $0.01 For example, electricity costs are $1,400 per month plus $0.08 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.40 per car washed. The actual operating results for August appear below. Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,300 Revenue $54,580 Expenses Cleaning supplies 5,420 Electricity 2,026 Maintenance 2,700 Wages and salaries 7,320 Depreciation 8,400 Rent 2,200 Total expense Administrative expenses Net operating income 1,682 29,748 $24,832 Required: Anuthin hidant nadamant that short comes Administrative expenses Total expense Net operating income 1,682 29,748 $24,832 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.) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Cars washed Revenue Actual Results 8,300 $ 54,580 Expenses: Cleaning supplies 5,420 Electricity 2,026 Maintenance 2,700 Wages and salaries 7,320 Depreciation 8,400 Rent 2,200 Administrative expenses 1,682 Total expense Net operating income 29,748 $ 24,832 Flexible Planning Budget Budget