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 $ 1,300 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Cost per Car Washed $ 0.40 $ 0.08 $ 0.10 $ 0.30 $ 4,400 $ 8,300 $ 1,800 $ 1,700 $ 0.01 For example, electricity costs should be $1,300 per month plus $0.08 per car washed. The company expects to wash 8,000 cars in August and to collect an average of $6.30 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,100 Revenue $ 52,500 Expenses : Cleaning supplies 3,700 Electricity 1,910 Maintenance 1,040 Wages and salaries 7,160 Depreciation 8,300 Rent 2,000 Administrative expenses 1,680 Total expense Net operating income $ 26, 710 25, 790 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 Results Flexible Budget Planning Budget 8,100 Cars washed Revenue $ 52,500 3,700 1,910 Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation 1,040 7,160 8,300 Rent Administrative expenses 2,000 1,680 25,790 26,710 Total expense Net operating income $