provides estimates concerning the company's costs: Fixed Cost per Month Cost per Car Washed $0.50 $0.07 $0.10 $0.20 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $1,300 $4,800 $8,200 $2,100 $1,400 $0.04 For example, electricity costs should be $1,300 per month plus $0.07 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6.30 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,600 $ 55,650 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 4,750 1,865 1,090 6,860 8,200 2,300 1,640 26,705 $ 28,945 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 Flexible Budget Planning Budget Results Cars washed 8,600 Revenue $ 55,650 Expenses: 4,750 Cleaning supplies Electricity 1,865 Maintenance 1,090 6,860 Wages and salaries Depreciation Rent 8,200 2,300 Administrative expenses 1,640 Total expense Net operating income 26,705 28,945 $