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 per Month $1,400 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Cost per Car Washed $0.60 $ 0.08 $0.10 $ 0.20 $4,300 $8,000 $2,200 $1,300 $ 0.03 For example, electricity costs should be $1,400 per month plus $0.08 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.30 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 8,400 $ 54,390 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 5,480 2,034 1,070 6,320 8,000 2,400 1,449 26,753 $ 27,637 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 varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance). Input all amounts as positive values.) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Budget Planning Budget Cars washed 8,400 Revenue S 54,300 Expenses: Cleaning supplies 5,480 Electricity 2,034 1,070 Maintenance Wages and salaries 6,320 8,000 Depreciation Rent 2,400 Administrative expenses 1,449 28,753 Total expense Net operating income $ 27,637