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 $1,300 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Cont per Car Washed 50.70 $0.06 $0.30 30.20 $4,900 $8,200 $1,900 51.800 30.02 For example, electricity costs are $1,300 per month plus $0.06 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.90 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 8,500 Actual cars washed $ 60,060 Revenue Ixpenses Cleaning supplies Electricity Maintenance Wages and salarios Depreciation Rent Administrative expenses Total expense Net operating income 6,380 1,774 2,760 6,940 8,200 2.100 1,868 30,022 $ 30,038 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 (1.e., zero 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 8,500 Planning Budget Cars washed $ 60.060 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent 6,380 1,774 2,760 6.940 8,200 2.100 1,868 30,022 30,038 Administrative expenses Total expense Net operating income $