Pixed cost per Month $1,300 cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Cost per Car Washed $0.50 $0.06 $0.20 $0.40 $4,000 $8,300 $2,000 $1,400 $0.04 For example, electricity costs are $1,300 per month plus $0.06 per car washed. The company expects to wash 8,400 cars in Augus and to collect an average of $6.10 per car washed. The actual operating results for August appear below. Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8.500 $ 53,340 Revenue Expenses cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 4,700 1,774 1.920 7,720 8,300 2,200 28,250 $ 25,090 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 (.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 $ 53,340 4,700 1,774 1.920 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 2 7.720 8,300 2,200 1,636 28,250 25.090