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: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Fixed Cost per cost per Month Car Washed $ 0.70 $ 1,100 $ 0.09 $ 0.10 $ 4,200 $ 0.20 $ 8,300 $ 2,100 $ 1,700 $ $ 0.05 For example, electricity costs should be $1,100 per month plus $0.09 per car washed. The company expects to wash 8,000 cars in August and to collect an average of $6.70 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 $ 55,700 Expenses: Cleaning supplies 6,100 Electricity 1,790 Maintenance 1,040 Wages and salaries 6,160 Depreciation 8,300 Rent 2,300 Administrative expenses 2,000 Total expense 27,690 Net operating income $ 28,010 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 Cars washed Revenue 8,100 55,700 $ 6,100 1,790 Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent 1,040 6,160 Administrative expenses Total expense Net operating income 8,300 2,300 2,000 27,690 28,010 $