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: For example, electricity costs should be $1,300 per month plus $0,06 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.30 per car washed. The actual operating results for August are as follows: Required: Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances for August. Note: Indicate the effect of eoch variance by selecting "F" for favorable, " U " for unfavorable, and "None" for no effect (i.e., zero veriance). Input all amounts is positive values. Lavage Rapide Flexible Budget Performance Report \begin{tabular}{|c|c|c|c|} \hline & \begin{tabular}{l} Actual \\ Results \end{tabular} & \begin{tabular}{ll} Flexible & Budget \end{tabular} & \begin{tabular}{c} Planning \\ Budget \end{tabular} \\ \hline Cars washed & 8,500 & 1 & \\ \hline Revenue & $55,020 & & \\ \hline Expenses: & & Activity Variances & \\ \hline Cleaning supplies & 5,540 & Revenue and Spending Variance & \\ \hline Electricity & 1,774 & & \\ \hline Maintenance & 2,760 & & \\ \hline Wages and salaries & 6,940 & & \\ \hline Depreciation . & 8,100 & & \\ \hline Rent & 2,100 & & \\ \hline Administrative expenses & 1,952 & & \\ \hline Total expense & 29,166 & & \\ \hline Net operating income & 25,854 & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Lavage Rapide } \\ \hline \multicolumn{5}{|c|}{ Flexible Budget Performance Report } \\ \hline \multicolumn{5}{|c|}{ For the Month Ended August 31} \\ \hline & \begin{tabular}{l} Actual \\ Results \end{tabular} & & \begin{tabular}{l} Flexible \\ Budget \end{tabular} & \begin{tabular}{l} Planning \\ Budget \end{tabular} \\ \hline Cars washed & 8,500 & & & . \\ \hline Revenue & 55,020 & & & \\ \hline Expenses: & & & & \\ \hline Cleaning supplies & 5,540 & & & \\ \hline Electricity & 1,774 & & & \\ \hline Maintenance & 2,760 & & & \\ \hline Wages and salaries & 6,940 & & & \\ \hline Depreciation & 8,100 & & & \\ \hline Rent & 2,100 & & & \\ \hline Administrative expenses & 1,952 & & & \\ \hline Total expense & 29,166 & F & & \\ \hline Net operating income & 25,854 & None & & \\ \hline \end{tabular}