Variances $3,300 F Bickel Corporation Comparison of Actual Results to Planning Budget For the Month Ended November 30 Actual Results Planning Budget Customers served 36,000 35,000 Revenue $3.409) $122,300 $119,000 Expenses : Wages and salaries ($23,500 + $1.259) 68,500 67,250 Supplies ($0.659) 20,450 22,750 Insurance ($5,400) 5,400 5,400 Miscellaneous expense ($4,400 + $0.349) 14,000 16,300 Total expense 108, 350 111,700 Net operating income $ 13,950 $ 7,300 1,250 U 2,300 F None 2,300 F 3,350 F $ 7,150 F Required: Prepare the company's flexible budget performance report for November. Label each variance as favorable (F) or unfavorable (U). (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.) Bickel Corporation Flexible Budget Performance Report For the Month Ended November 30 Revenue Actual and Flexible Results Spending Budget Variances 36,000 36,000 $ 122,300 Activity Variances Planning Budget 35,000 Customers served Revenue Expenses: Wages and salaries Supplies Insurance Miscellaneous expense Total expense Net operating income