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: cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Fixed Cost Cost per per Month Car Washed $0.50 $1,200 $0.09 $0.25 $5,000 $0.20 $8,400 $1,900 $1,800 $0.03 For example, electricity costs are $1.200 per month plus $0.09 per car washed. The company expects to wash 8,000 cars in August and to collect an average of $6.40 per car washed The actual operating results for August appear below. Lavage Rapide Income statement For the Month Ended August 31 Actual cars washed 8,100 6,960 Revenue $ 500 Expenses cleaning supplies 4.500 Electricity 1,890 Maintenance 2.240 Wages and salaries Depreciation 8.400 Rent 2,100 Administrative 1,940 expenses Total expense 28.030 Net operating income $25,270 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 (l.e., zero variance). Input all amounts as positive values.) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Budget 8.1001 Planning Budget Cars washed 3313001 4,500 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 2.240 6.960 8.400 2.100 1,940 28.030 $ 25,270