Varriano Corporation bases its budgets on the activity measure customers served. During October, the company planned to serve 37,000 customers, but actually served 35,000 customers. The company has provided the following data concerning the formulas it uses in its budgeting: Revenue Wages and salaries Supplies Insurance Miscellaneous expense Required: Fixed elenent per month $ 37,100 $ 8,100 Variable element per customer $3.82 $ 1.22 $ 0 $ 0.52 $ 7,100 $ 0.00 $0.42 Prepare a report showing the company's activity variances for October. Indicate in each case whether the variance is favorable (F) or unfavorable (U). (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 as positive values.) Varriano Corporation Activity Variances For the Month Ended October 31 Customers served i Revenue Expenses Wages and salaries Supplies Insurance Miscellaneous expense Total expense Net operating income Flexible Budget Planning Budget Activity Variances 35,000 37,000