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 companys costs:

	Fixed Cost per Month	Cost per Car Washed
Cleaning supplies		$ 0.70
Electricity	$ 1,200	$ 0.07
Maintenance		$ 0.15
Wages and salaries	$ 4,600	$ 0.30
Depreciation	$ 8,400
Rent	$ 2,100
Administrative expenses	$ 1,400	$ 0.01

For example, electricity costs should be $1,200 per month plus $0.07 per car washed. The company expects to wash 8,400 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	8,500
Revenue	$ 55,020
Expenses:
Cleaning supplies	6,380
Electricity	1,758
Maintenance	1,500
Wages and salaries	7,480
Depreciation	8,400
Rent	2,300
Administrative expenses	1,384
Total expense	29,202
Net operating income	$ 25,818

Required:

Prepare a flexible budget performance report that shows the companys 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.)

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 Results Flexible Budget Planning Budget Cars washed 8,500 Revenue $ 55,020 6,380 1,758 Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent 1,500 7,480 8,400 2,300 Administrative expenses 1,384 Total expense 29,202 Net operating income $ 25,818