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 cost per per Month Car Washed Cleaning supplies $ 8.70 Electricity $ 1,100 $ 8.10 Maintenance $ 0.20 Wages and salaries $4,100 $ 8.30 Depreciation $ 8,500 Rent $ 2,200 Administrative expenses $ 1, Bee $ 0.05 For example, electricity costs should be $1,100 per month plus 5010 per car washed. The company expects to wash 8.000 cars in August and to collect an average of $6.50 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 Ievenue $ 54,100 Expensest Cleaning supplies 6,100 Electricity Maintenance 1,40 Wages and salaries 6,860 Depreciation 8,500 Rent 2,400 Administrative expenses Total expense 29.670 Net operating income $ 24,430 1,870 2,100 Required: Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances for 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 varlance). 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 8.100 8,100 $ 54.100 Activity Variances Planning Budget Cars washed Revenue 0.100 Expenses: Cleaning Supplies Electricity Maintenance Wages and salaries Depreciation Rent 1,870 1,840 8.800 8.500 2.400 2.100 20.070 None None Administrative expenses Total expense Net operating income $ 24,430