Prepare a flexible budget performance report that shows the companys 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 (i.e., zero variance). Input all amounts as positive values.)

Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides de concerning the company's costs Fixed coat Month Cleaning Electriety Maintenance coat per Car Washed $0.40 30.07 80.20 50.30 31.300 Depreciation 54,300 58,300 $2.100 $1,500 Ministrative expenses $0.04 For example, electricity costs are $1,300 per month plus $0.07 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.80 per car washed. The actual operating results for August appear below. Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 2.400 550, 540 Revenue Expenses Cleaning supplies Electricity Maintenance Wages and salaries Depreciation 3,020 1.851 1.900 7.150 8300 2,300 1732 Administrative expenses Total expense Net operating income 27.053 $31,487 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 (ie, zero variance). Input all amounts as positive values.) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Budget 8,400 Planning Budget Cars washed Revenue $ 58,540 Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 3,820 1,851 1,900 7,150 8,300 2,300 1.732 27,053 31,487 $