Saved ABC Co. bases its budgets on the number of customers served. During April, ABC planned to serve 32,500 customers, but the actual number is 27.500 customers. Revenue is $3.85 per customer served. Utilities are $34,600 per month plus $1.25 per customer served. Salaries are $0.55 per customer served. Insurance is $8,800 per month. Repairs are $6,900 per month plus $0.25 per customer served. Required: Prepare a report showing ABC's static budget variance for April. Indicate in each case whether the variance is favorable (F), unfavorable (U), or no effect (None). Use a minus sign for any losses. ABC Co. Static Budget Variance For the Month Ended April 30 Flexible Planning Budget Budget Static Budget Variance Customers served 27.500 32.500 Revenue Expenses: Utilities Salaries Insurance Repairs Total expense Net operating income (loss)