Question 10 Cicchetti Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actual operating results for the month of December: Cicchetti Corporation Comparison of Actual Results to Planning Budget For the Month Ended December 31 Actual Planning Results Budget Variances Customers served 39,000 34,500 Revenue ($4.7q) $183,650 $162,150 $21,500 F Expenses: Wages and salaries ($36,200 + $1.6q) 100,800 91,400 9,400 Supplies ($0.8q) 30,550 27,600 2,950 Insurance ($13,200) 13,550 13,200 Miscellaneous expense ($6,200 + $0.5q) 350 27,000 23,450 3,550 Total expense 171,900 155,650 16,250 Net operating income $ 11,750 $ 6,500 $ 5,250 TOCCCC Required: Prepare the company's flexible budget performance report for December. Select each variance as favorable (F), unfavorable (U) or "None"