Problem 3 Camcam Corporation uses customers served as its measure of activity. During July, the company budgeted for 26,000 customers, but actually served 30,000 customers. The company uses the following revenue and cost formulas in its budgeting, where q is the number of customers served: Revenue: $4.909 Wages and salaries: $34,400 + $ 1.600 Supplies: $1.000 Insurance: $8,500 Miscellaneous expense: $5,600 + $0.20q The company reported the following actual results for July: Revenue $148,800 Wages and salaries $82,000 Supplies $28,600 Insurance $8,100 Miscellaneous expense $10,600 Required: Prepare a report showing the company's revenue and spending variances for July. Label each variance as favorable (F) or unfavorable (U)