Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company's costs: Fixed Cost per Month Cleaning supplies Electricity $1,500 Maintenance Wages and salaries $4,600 Depreciation $8,300 Rent $1,900 Administrative expenses $1,600 Cost per Car Washed $0.80 $0.06 $0.20 $0.30 $0.01 For example, electricity costs are $1,500 per month plus $0.06 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 appear below. Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8, 500 $52, 500 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 7, 220 1, 974 1, 920 7, 480 8,300 2, 100 1, 584 30, 578 $21, 922 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 Revenue and Flexible Results Spending Variances Budget 8,500 8,500 Activity Variances Planning Budget 8,400 Cars washed Revenue $ 52.500 7,220 1.974 Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent 1,920 7.480 8,300 2,100 1,584 Administrative expenses Total expense Net operating income 30,578 $ 21,922