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 Revenue ($3.509). $72,000 $75.800 $3.800 F Expenses: Wages and salaries ($22,600 + $1.10q)... 44,600 45,700 1,100 U Supplies ($0.509) 10,000 8,700 1,300 F Insurance ($4,600) 4,600 4,600 Miscellancous ($3,400 + $0.30q)... 9.400 8.100 1.300 F 68,600 67.100 1.500 F Net operating income $ 3.400 $ 8.700 $5,300 F 0 Total expense 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)