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.)

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Lavage 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 Cost per per Month $1,200 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Car Washed $0.80 $0.05 $0.25 $0.30 $4,800 $8,200 $1,900 $1,300 $0.04 For example, electricity costs are $1,200 per month plus $0.05 per car washed. The company expects to wash 8,100 cars in August and to collect an average of $6.90 per car washed. The actual operating results for August appear below. Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,200 $ 57,990 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation 6,980 1,575 2,265 7,590 Rent 8,200 2,100 1,524 Administrative expenses Total expense Net operating income 30,234 $ 27,756 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 (i.e., zero variance). Input all amounts as positive values.) Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Revenue and Flexible Results Spending Variances Budget 8,200 8,2001 Planning Budget Cars washed Revenue $ 57,990 6,980 Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation 1,575 2,265 7,590 8,200 Rer 2,100 1,524 Administrative expenses Total expense Net operating income 30,234 $ 27,756