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Lovage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company's costs: Fixed Cost per Month $1,400 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Cost per Car Washed $0.40 $0.10 $0.15 $0.40 $4,200 $8.400 $2,220 $1,700 $e. For exemple, electricity costs are $1.400 per month plus $0.10 per car washed. The company expects to wash 3.200 cars in August ond to collect an average of $6.70 per car washed. The actual operating results for August appear below. Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,300 $ 57,040 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 3.780 2,190 1.470 7.848 8,400 2.200 1,928 27.80 $ 29,232 Required: Prepare a flexible budget performance report that shows the company's revenue and spending variances and activity variences 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 Ended August 31 Actual Flexible Resulta Budget 8,300 Planning Budget Cars washed $ 57,040 Revenue Expenses Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 3.780 2,190 1,470 7,840 8,400 200 1.928 27,808 29,232 5