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 Cost per per Month $1,400 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Car Washed $0.70 $0.05 $0.15 $0.20 $4,100 $8,200 $2,100 $1,300 $0.05 For example, electricity costs are $1,400 per month plus $0.05 per car washed. The company expects to wash 8,100 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 8,200 $ 57,180 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 6,170 1,775 1,455 6,080 8,200 2,300 1,605 27,585 $ 29,595 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 Flexible Results Budget 8,200 Planning Budget 8,100 Cars washed Revenue $ 57,180 $ 55,080 Expenses 6,170 U 5,670 Cleaning supplies Electricity 1,775 1,805 Maintenance 1,455 1,215 6,080 Wages and salaries Depreciation Rent 8,200 5,720 8,200 2,100 1,705 2,300 Administrative expenses 1,605 Total expense 26,415 27,585 29,595 Net operating income $ $ 28,665