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 $ 0.60 $ 0.06 $ 0.15 $ 0.30 cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $ 1,100 $ 4,800 $ 8,400 $ 1,800 $ 1,700 $ 0.03 For example, electricity costs should be $1,100 per month plus $0.06 per car washed. The company expects to wash 8,100 cars in August and to collect an average of $6.70 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, 200 Revenue $ 56, 370 Expenses: cleaning supplies 5,360 Electricity 1,556 Maintenance 1,455 Wages and salaries 7,590 Depreciation 8,400 Rent 2,000 Administrative expenses 1,843 Total expense 28, 204 Net operating income $ 28,166 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 8,200 Cars washed Revenue $ 56,370 5,360 1,556 Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciatic Rent 1,455 7,590 ,400 2,000 1,843 Administrative expenses Total expense Net operating income 28,204 $ 28,166