Mieras Corporation uses customers served as its measure of activity. During January, the company budgeted for 37,600 customers, but actually served 35,500 customers. The company uses the following revenue and cost formulas in its budgeting, where q is the number of customers served: Revenue: $2.86q Wages and salaries: $23,700 + $0.82q Supplies: $0.45q Insurance: $6,800 Miscellaneous: $4,200 + $0.38q The company reported the following actual results for January: Revenue $ 103,830 Wages and salaries $ 53,910 Supplies $ 16,335 Insurance $ 9,700 Miscellaneous $ 20,190
Required:
Prepare a report showing the company's revenue and spending variances for January. (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Mieras Corporation Revenue and Spending Variances For the Month Ended January 31 Revenue $ Expenses: Wages and salaries Supplies Insurance Miscellaneous Total expense Net operating income $