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 $1,100 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Cost per Car Washed $0.48 $0.05 $0.25 $0.30 $4,500 $8,100 $2,200 $1,500 $0.02 For example, electricity costs should be $1,100 per month plus $0.05 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: Income Statement Lavage Rapide For the Month Ended August 31 Actual cars washed 8,500 Revenue $53,340 Expenses: Cleaning supplies 3,860 Electricity 1,490 Maintenance 2,340 Wages and salaries 7,380 Depreciation 8,100 Rent 2,400 Administrative expenses 1,568 Total expense 27,138 Net operating income $26,202 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 8,500 Revenue $ 53,340 Expenses: Cleaning supplies Electricity 3,860 1,490 Maintenance Wages and salaries Depreciation 2,340 7,380 8,100 2,400 1,568 Rent Administrative expenses Total expense 27,138 Net operating income $ 26,202