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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 data concerning the company's costs: Fixed Cost per Month Cost per Car Washed $0.60 $0.06 $0.30 $0.40 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $1,000 $4,400 $8,300 $2,200 1,700 $0.03 For example, electricity costs are $1,000 per month plus $0.06 per car washed. The company expects to wash 8,000 cars in August and to collect an average of $6.20 per car washed. The actual operating results for August appear below Lavage Rapide Income Statement Por the Month Ended August 31 Actual cars washed 8,100 51,700 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses 5,300 1,450 2, 640 7,960 8,300 2,400 1,840 Total expense Net operating income 21,810 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.) 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 Flexible Budget Actual Results Planning Budget Cars washed 8,100 Revenue $ 51,700 Expenses 5,300 1,450 2,640 7,960 8,300 2,400 1,840 29,890 $ 21,810 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income

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