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 $8.50 $0.99 $0.25 $0.30 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $1,100 $4,100 $8,300 $1,900 $1,300 ces $0.03 For example, electricity costs are $1,100 per month plus $0.09 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6.50 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 8,600 Revenue Expenses: $ 57,350 For example, electricity costs are $1,100 per month plus $0.09 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6.50 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 8,600 $.57,350 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 4,750 1,835 2,365 7,010 8,300 2,100 1,455 27,815 $ 29,535 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 *** Flexible Budget Performance Report For the Month Ended August 31 Actual Revenue and Flexible Results Spending Variances Budget 8,600 Activity Variances Planning Budget Cars washed Revenue $ 57,350 4,750 1,835 Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 2,365 7,010 8,300 2,100 1,455 27,815 29,535 $