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 companys costs: Fixed Cost per Month Cost per Car Washed Cleaning supplies $ 0.60 Electricity $ 1,200 $ 0.09 Maintenance $ 0.25 Wages and salaries $ 4,400 $ 0.40 Depreciation $ 8,000 Rent $ 1,900 Administrative expenses $ 1,500 $ 0.02 For example, electricity costs should be $1,200 per month plus $0.09 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.80 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 8,400 Revenue $ 58,540 Expenses: Cleaning supplies 5,480 Electricity 1,917 Maintenance 2,315 Wages and salaries 8,080 Depreciation 8,000 Rent 2,100 Administrative expenses 1,566 Total expense 29,458 Net operating income $ 29,082 Required: Prepare a flexible budget performance report that shows the companys 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 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 Cost per Car Washed $0.60 $0.09 $0.25 $0.40 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $1,200 $4,400 $8,000 $1,900 $1,500 $0.02 For example, electricity costs should be $1,200 per month plus $0.09 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.80 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 8,400 $58,540 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 5,480 1,917 2,315 8,080 8,000 2,100 1,566 29,458 $ 29,082 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 8,400 Revenue $ 58,540 5,480 1,917 Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent 2,315 8,080 8,000 2,100 Administrative expenses 1,566 Total expense 29,458 Net operating income $ 29,082