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AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February Fixed Component Variable Actual Total Component per Job for February per Month 276 Revenue 30,370 8,150 7,940 $ 2,730 $ 1,670 $ 2,900 Technician wages Mobile lab operating expenses Office expenses Advertising expenses 8,300 4,500 2,400 1,600 2,900 30 4 Insurance Miscellaneous expenses 960 385 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,500 plus $30 per job, and the actual mobile lab operating expenses for February were $7,940. The company expected to work 120 jobs in February, but actually worked 128 jobs. Required Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity variances for February. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Revenue and Spending Variances Actual Results Flexible Planning Budget Activity Variances Budget 128 Jobs 128 120 30,370 Revenue Expenses: Technician wages Mobile lab operating expenses Office expenses 150 F 8,150 7,940 2,730 Advertising expenses 1,670 Insurance 2,900 Miscellaneous expenses 385 Total expense 23,775 Net operating income $ 6,595