Lovege Rapide is a Canadian company that owns and operates a large sutomatic car wash fecility near Montreal. The following table provides estimates concerning the company's costs: Fixed Cost Cost per per Month Car Washed Cleaning supplies $ 0.90 Electricity $1.500 $ 0.25 Maintenance $ 8.30 Wages and salaries $ 4.788 $ 0.20 Depreciation $ 8.200 Rent $ 1,980 Administrative expenses $ 1,780 $ 0.82 For exemple, electricity costs should be $1.500 per month plus $0.05 per car washed. The company expects to wash 3.300 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 Actual cars washed 8.400 Revenue $ 59,370 Expenses: Cleaning supplies 7,140 Electricity 1,885 Maintenance 2,730 Wages and salaries Depreciation 8,200 Rent 2,102 Administrative expenses 1,766 Total expense 30,541 Net operating income $ 28,429 6,720 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 variance). Input all amounts as positive values.) Lavage Rapide Flexible Budget Performance Report For the Month ded August 31 Actual Flexible Resulte Budget Planning Budget Cars washed Revenue 8,400 59,370 S Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 7.140 1,885 2.730 6,720 8,200 2,100 1,786 30,541 5 28,229