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 pert Month Cost per $1,200 Cleaning Supplies Electricity Maintenance Wages and salaries Depreciation Rent Aministrative expenses Car Washed 50.40 $0.07 se.20 $0.20 $4,900 $8,200 $2,100 $1,500 $0.03 For example, electrichy costs should be $1,200 per month plus $0.07 per car washed. The company expects to wash 8,100 cars in August and to collect an average of $6.60 per car washed. The actual operating results for August are as follows: Luv. Rapide Income Statenent For the Month red August 31 ALL cars washed 8.200 3.55,662 3,740 Reverie Expenses Cleaning up Ceility Medance Wings and Salaries Depreciation ,1 R 1.800 6, se 8,200 2.300 3,343 263 $129.200 Astrative e Toll up Net operating 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 (Le, zero variance) Input all amounts as positive values.) Lavage Rapide Hexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Activity Variances Budget Revenue and Spending Variances Planning Budget Cars washed 8.200 $ 55,500 Revenue Expenses Cleaning suppies Electricity Maintenance Wages and salanes Depreciation Rent Administrative expenses Total expense Net Operating nome 3.740 1.737 1.860 6.BBO 8.200 2.300 1843 28,300 201200 A 5