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 cost per Month Car Washed Cleaning supplies $ 2.70 Electricity $1,500 $ 0.07 Maintenance $ 0.10 Wages and salaries $ 4,900 $ 0.30 Depreciation $ 8,000 Rent $ 2,000 Administrative expenses $ 1,400 $ 0.02 For example, electricity costs should be $1,500 per month plus $0.07 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.00 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 8,500 Revenue $ 52,500 Expenses: Cleaning supplies 6,380 Electricity 2,058 Maintenance 1,080 Wages and salaries 7,780 Depreciation 8,000 Rent 2,200 Administrative expenses 1,468 Total expense 28,966 Net operating income $ 23,534 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 (1.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 Cars washed Revenue 8.500 52,500 $ Expenses Clean supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 6,380 2,058 1,060 7,780 8,000 2,200 1,468 28.066 23,534 3