Tajiri 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 May: Tajiri Corporation Comparison of Planning Budget to Actual Results For the Month Ended May 31 Planning Budget Actual Results Variances Customers served 25,000 26,000 Revenue (3.60q) $ 90,000 $ 93,700 $ 3,700 F Expenses: Wages and salaries ($22,500 + $1.15q) 51,250 52,400 1,150 U Supplies ($0.55q) 13,750 12,350 1,400 F Insurance ($4,400) 4,400 4,400 0 Miscellaneous expense ($3,400 + $.35q) 12,150 10,750 1,400 F Total expense 81,550 79,900 1,650 F Net operating income $ 8,450 $ 13,800 $ 5,350 F Required: 1. Prepare the company's flexible budget performance report for May. Label each variance as favorable (F) or unfavorable (U). (Input all amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.) Tajiri Corporation Flexible Budget Performance Report Part 1 & 2 For the Month Ended May 31 Planning Budget Activity Variances Flexible Budget Revenue and Spending Variances Actual Results Customers served 25,000 26000 26,000 Revenue $ 90,000 $ $ 0 $ $ 93,700 Expenses: Wages and salaries 51,250 52,400 Supplies 13,750 12,350 Insurance 4,400 4,400 Miscellaneous expense 12,150 10,750 Total expense 81,550 79,900 Net operating income $ 8,450 $ $ $ $ 13,800 rev: 03_28_2012