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 $ 9.50 Electricity $ 1,100 $9.95 Maintenance $ 0.25 Wages and salaries $ 4,400 $ 0.20 Depreciation $ 8,400 Rent $ 1,900 Administrative expenses $ 1,300 $ 0.03 For example, electricity costs should be $1,100 per month plus $0.05 per car washed. The company expects to wash 8.400 cars in August and to collect an average of $6.90 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 $ 60,068 Expenses: Cleaning supplies 4,790 Electricity 1,490 Maintenance 2,340 Wages and salaries 6,440 Depreciation 8,400 Rent 2,100 Administrative expenses 1,452 Total expense 26,922 Net operating income $ 33,138 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 verlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance). Input all amounts as positive values.) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Revenue and Flexible Results Spending Variances Budget Planning Budget Cars washed 8.500 60.000 Revenue S 4.700 Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent 1.490 2.340 6,440 8,400 2.100 1.452 Administrative expenses Total expense Net operating income 28,922 33.138 S