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 $0.08 $0.25 $0.40 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $1,300 $4,100 $8,400 $2,200 $1,500 $0.02 For example, electricity costs should be $1,300 per month plus $0.08 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.50 per car washed. Muyusi anu LV LURIELL ON aveiaye vipuu pei cai wasntu. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,500 $ 56,700 ok mt Revenue Expenses : Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 5,540 1,942 2, 340 7,820 8,400 2,400 1,568 30,010 $ 26,690 Required: Prepare a flexible budget performance report that shows the company's revenue and spending variances and a August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" variance). 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 8,500 Activity Variances Planning Budget Cars washed Revenue $ 56,700 $ 2,100F $ 54,600 5,540 1,942 Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 2,340 7,820 8,400 2,400 1,568 30,010 26,690 $