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 Cost per Car Washed $0.40 $0.09 $0.25 50.30 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Root Administrative expenses $1,100 55,000 $8,200 $2,100 $1,600 50.03 Sock For example, electricity costs should be $1,100 per month plus $0.09 per car washed. The company expects to wash 8,100 cars in August and to collect an average of $6.10 per car washed. The actual operating results for August are as follows: Lavage rapide Income statement Yor the Month Inded August 31 Actual cars washed ferences 3,200 551, 510 Revenge Express cleaning supplies lectricity Maintenance Nages and salaries Depreciation unt Ministrative expenses total expens et operating incom 3,740 2.79 2,265 7.790 8.200 2,300 1,743 23.675 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 effectie, zero variance). Input all amounts as positive values.) Lavage Rapide Flexible Budget Performance Report For the Month Ended Augusta Required: Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no variance). Input all amounts as positive values.) Book Print Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Budget References Planning Budget Cars washed 8,200 $ 51,510 Revenue Expenses Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Ront 3,740 1.799 2,265 7.790 8,200 2,300 1,743 27,837 23.673 Administrative expenses Total expense Net Operating income $