Problem 2 Tajiri Corporation uses customers served as its measure of activity (q). The following report compares the planning budget to the actual operating results for the month of May: Tajiri Corporation Comparison of Planning Budget to Actual Results For the Month Ended May 31 Planning Actual Budget Results Variances Customers served 20,000 21,000 $72,000 $75,800 $3,800 F Revenue ($3.60q). Expenses: Wages and salaries ($22,600+ $1.10q)... Supplies Heading 1 Insurance ($4,600). Miscellaneous ($3,400 + $0.30q).... 44,600 10,000 4,600 9,400 68,600 $ 3,400 45,700 8,700 4,600 8,100 67,100 $ 8,700 1,100 U 1,300 F 0 1,300 F 1,500 F $5,300 F Total expense Net operating income. Required: Prepare a performance report that has the activity variances and revenue and spending variances for May. Label each variance as favorable (F) or unfavorable (U)