Check my work For example, electricity costs are $1,100 per month plus $0.10 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.90 per car washed. The actual operating results for August appear below. 20:33:44 Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,500 $ 60,060 Book Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 3,860 1,910 1,500 6,140 8,200 2,400 1,752 25,762 $ 34, 298 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 mi NE Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Budget 8,500 Planning Budget 0:33:36 Cars washed Revenue $ 60.060: ook Expenses Cleaning supplies Electricity 3.860 1,910 Maintenance 1.500 6.140 Wages and salaries Depreciation Rent 8,200 2.400 1.752 Administrative expenses Total expense 25,762 S Net operating income 34,298 Check my work For example, electricity costs are $1,100 per month plus $0.10 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.90 per car washed. The actual operating results for August appear below. 20:33:44 Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,500 $ 60,060 Book Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income 3,860 1,910 1,500 6,140 8,200 2,400 1,752 25,762 $ 34, 298 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 mi NE Lavage Rapide Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Budget 8,500 Planning Budget 0:33:36 Cars washed Revenue $ 60.060: ook Expenses Cleaning supplies Electricity 3.860 1,910 Maintenance 1.500 6.140 Wages and salaries Depreciation Rent 8,200 2.400 1.752 Administrative expenses Total expense 25,762 S Net operating income 34,298