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 Cost per Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses per Month Car Washed $ 0.70 $ 1,300 $ 0.08 $ 0.30 $ 4,300 $ 0.30 $ 8,400 $ 2,100 $ 1,400 $ 0.04 For example, electricity costs should be $1,300 per month plus $0.08 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 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income Required: 8,400 $ 58,540 6,310 1,934 2,730 7,150 8,400 2,300 1,632 30,456 $ 28,084 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 Cars washed Revenue Actual Results 8,400 $ 58,540 Expenses: Cleaning supplies 6,310 Electricity 1,934 Maintenance 2,730 Wages and salaries 7,150 Depreciation 8,400 Rent 2,300 Administrative expenses 1,632 Total expense 30,456 Net operating income $ 28,084 Flexible Budget Planning Budget