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Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs Fixed cost pee Month $1,300 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Cost per Car Washed $0.70 $0.08 $0.25 50.40 $4,500 38,200 $2,080 $1,400 $0.94 For example, electricity costs should be $1300 per month plus $0.08 per car washed. The company expects to wash 8,100 cars in August and to collect an average of $590 per car washed The actual operating results for August are as follows Lavage Rapide Incone Statet for the Month Ended August 31 Actual cars washed 8,200 5149,898 Revenue Expenses Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 6,170 2,918 2,265 8,100 8,200 2.200 1,624 30472 $19,423 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 (ie, zero variance). Input all amounts os positive values.) 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 Results Budget Planning Budget Cars washed 8,200 $ 49,890 Revenue Expenses Cleaning supplies Electricity Maintenance Wages and salarles Depreciation Rent Administrative expenses Total expense Net operating income 6,170 1918 2.265 8,100 8,200 2200 1.624 30.477 19.413