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 Fixed Cost per Month $1,100 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Car Washed $0.80 $0.05 $0.10 $0.30 $4,800 $8,100 $1,900 $1,500 $0.03 For example, electricity costs are $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 $6.60 per car washed. The actual operating results for August appear below. Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,500 $ 57,540 Revenue Expenses: cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 7,220 1,490 1,080 7,680 8,100 2,100 1,652 29, 322 $ 28, 218 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 variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero 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 $ 57,540 F Expenses: 7,220 U Cleaning supplies Electricity 1,490 CC U Maintenance 1,080 U 7,680 U U Wages and salaries Depreciation 8,100 0 None 0 None Rent 2,100 U 0 None Administrative expenses 1,652 F U Total expense 29,322 U U Net operating income $ 28,218 F F