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: Plxed Cost Cont per per Month Car Washed Cleaning mupplies $0.60 Electricity $1,100 $0.09 Maintenance $0.15 Wages and salaries $4,900 $0.20 Depreciation $8,300 Rent $1,000 Administrative expenses $1,700 $0.02 For example, electricity costs should be $1,100 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 11 Actual cars washed 8,400 Revenue $58,540 Expenses Cleaning supplies 5,480 Electricity 1,817 Maintenance 1,485 Wages and salaries 6,920 Depreciation 8,300 Rent 2,000 Administrative expensen 1,766 Total expense 27.768 Net operating income $30,772 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 (ie, zero variance). Input all amounts as positive values.) Lavage Rapido Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Budget Planning Budget 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 1,817 1,485 6,920 8,300 2,000 1,766 27.768 30.772 $