Lovage 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: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Fixed Cost Cost per per Month Car Washed $ 0.40 $ 1,200 $ 0.06 $ 0.15 $ 4,100 $ 0.30 $ 8,100 $ 1,900 $ 1,500 $ 0.04 For example, electricity costs should be $1,200 per month plus $0.06 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.80 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: 8,500 $ 59,220 3,860 1,674 1,500 6,988 8,100 2,100 1,736 25,958 $ 33,278 Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variances for August. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (I.e., zero varlance). Input all amounts as positive values. Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Cars washed Revenue Actual Results 8,500 $ 59,220 Expenses Cleaning supplies 3,860 Electricity 1,674 Maintenance 1,500 Wages and salaries 6,980 Depreciation 8,100 Rent 2,100 Administrative expenses 1,736 Total expense 25,950 Net operating income S 33,270 Flexible Budget Planning Budget