Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montre The following table provides estimates concerning the company's costs: Fixed cost per Month Cost per Car Washed $0.60 $0.06 $0.20 $0.40 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $1,500 $4,400 $8,500 $1,900 $1,400 $0.02 For example, electricity costs should be $1,500 per month plus $0.06 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $5.90 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 $ 51,660 Revenue Expenses : Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 5,540 1,974 1,920 8,120 8,500 2,100 1,468 29,622 $ 22,038 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 varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (1.e., zero varlance). Input all amounts as positive values.) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Budget Planning Budget Cars washed 8,500 $ 51,660 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 5,540 1,974 1,920 8,120 8,500 2,100 1,468 29,622 22,038 $