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 Cost per per Month Car Washed Cleaning supplies $0.50 Electricity $1,400 $0.97 Maintenance $0.15 Wages and salaries $4,500 $0.30 Depreciation $8,000 Rent $2,000 Administrative expenses $1,500 $0.02 For example, electricity costs should be $1,400 per month plus $0.07 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.40 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 $55,220 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 4,650 1,951 1,485 7,350 8,000 2,200 1,566 27,202 $ 28,018 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 (.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 8,400 Planning Budget Cars washed Revenue $ 55,220 Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation 4,650 1,951 1,485 7,350 8,000 2,200 1,566 27,202 28,018 Rent Administrative expenses Total expense Net operating income $