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 Rent Administrative expenses Fixed Cost Cost per per Month Car Washed $0.50 $1,100 $0.10 $0.15 $4,700 $0.30 $8,100 $1,900 $1,600 $0.04 For example, electricity costs are $1,100 per month plus $0.10 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 appear below. Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,600 Revenue $57,350 Expenses: cleaning supplies 4,750 Electricity 1,920 Maintenance 1,515 Wages and salaries 7,610 Depreciation 8,100 Rent 2,100 Administrative 1,840 expenses Total expense 27,835 Net operating income $29,515 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.) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Budget 8,600 Planning Budget Cars washed $ 57,3501 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 4,7501 1,9201 1,5151 7,6101 8,100 2,100! 1,840 27,8351 $ 29,515|