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 Fixed Cont per Month $1,400 Coate Car Washed 50.40 50.08 0.15 50.30 Cleaning supplies Electricity Maintenance Wages and are Depreciation Rent Administrative expenses $4,300 $3,500 $2,200 $1,600 $0.02 For example, electricity costs are $1,400 per month plus $0.08 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.10 per car washed. The actual operating results for August are as follows: Lavage rapide The Statement For the Month nded August 31 ACCO Chra washed 0.500 $53,340 Revenue Expertise Cleaning supplies Electricity Maintenance Wages and salari Depreciation Rent Administrative expenses Total expense Nes operating income 3,060 2,042 1.500 7.100 8.400 2,400 1.660 27.050 $26,290 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 (ie, zero varlonce). Input all amounts os positive values.) 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 (.e., zero variance). Input all amounts as positive values.) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Budget 8,500 Planning Budget Cars washed $ 53,340 Revenue Expenses Cleaning supplies Electncity Maintenance Wages and salanes Depreciation Rent Administrative expenses Total expense Net operating income 3.860 2,042 1,500 7.180 8.400 2,400 1,668 27.050 26.290 S