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 Cost per per Month Car Washed $ 0.70 $ 1,200 $ 0.10 $ 0.15 $ 4,500 $ 0.20 $ 8,300 $ 2,000 $ 1,800 $ 0.03 For example, electricity costs should be $1,200 per month plus $0.10 per car washed. The company expects to wash 8,200 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: 8,300 $ 56,220 6,240 1,990 1,470 6,500 8,300 2,200 1,946 28,646 $ 27,574 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 $ 56,220 Expenses: Cleaning supplies 6,240 Electricity 1,990 Maintenance 1,470 Wages and salaries 6,500 Depreciation 8,300 Rent 2,200 Administrative expenses 1,946 Total expense 28,646 Net operating income $ 27,574 Flexible Budget Planning Budget