Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company's costs: Cost per Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expensers 0.50 $0.06 $0.20 0.20 $1,300 $4,500 $8,000 $2,000 $1,400 $0.04 For example, electricity costs are $1,300 per month plus $0.06 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.20 per car washed. The actual operating results for August appear below. Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,300 Revenue $52.940 Expenses Cleaning supplies Electricity Haintenance Wages and salaries Depreciation Rent Administrative expenses 4,600 1,762 1,880 6,500 8,000 2,200 1,628 26.570 26,370 Total expense Net operating income Required: Prepare a flexible budget performance report that shows the company's revenue and spending variances and variances for August. (Indicate the effect of each variance by selecting "F for favorable, "U" for unfavorabl "None" for no effect (I.e., zero variance). Input all amounts as positive values.) Lavage Rapide Floxible Budget Performance Report For the Month Ended August 31 Planning Budget Flexible Revenue and ResultsSpending VarlancesBudget Actual Activity Variances Bu Cars washed 8,300 Revenue S 52,940 S 51.460 S 620 S 50,840 Expenses Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses 4,600 1,762 1,880 6,500 8,000 2,200 1,628 26,570 $26,370 4,150 1.798 1.660 6,160 8,000 2,000 1,732 25.500 50 4.100 1,792 1,640 6.160 8,000 2,000 1,732 25,500 S 25,960 20 20 o None At o None Total expense 100 Net operating income $25,960 S 520F