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: Cleaning supplies Electricity Maintenance Wages and salaries. Depreciation Administrative expenses Rent Lavage Rapide Income Statement Actual cars washed Revenue Expenses: For the Month Ended August 31 Cleaning supplies Electricity Maintenance For example, electricity costs are $1,300 per month plus $0.08 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.60 per car washed. The actual operating results for August appear below. Wages and salaries. Depreciation Rent Fixed Cost per Month $1,300 $4,900 $8,200 Administrative expenses Total expense Net operating income $1,800 $1,700 8,500 $57,540 Cost per Car Washed 6,380 1,942 2,340 7,780 8,200 2,000 2,020 30, 662 $26,878 $0.70 $0.08 $0.25 $0.30 $0.05 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.) Cars washed Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ 8,500 $ 57,540 6,380 1,942 2,340 7,780 8,200 2,000 2,020 30,662 26,878 Flexible Budget Planning Budget