Corporation provides on-site air quality testing services. The company has provided the following cost formulas and...

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Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February: Fixed Component per Month Variable Component Revenue per Job $ 278 Actual Total for February $ 38,950 Technician wages $ 8,000 $ 7,850 Mobile lab operating expenses $ 4,700 $ 35 $ 9,790 Office expenses $ 2,200 $ 3 $ 2,500 Advertising expenses $ 1,590 $ 1,660 Insurance $ 2,870 Miscellaneous expenses $ 920 $ 2 $ 2,870 $ 525 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,700 plus $35 per job, and the actual mobile lab operating expenses for February were $9,790. The company expected to work 150 jobs in February, but actually worked 156 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity variances for February. (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.) AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Jobs Actual Results 156 $ 38,950 Revenue Expenses: Technician wages 7,850 Mobile lab operating expenses 9,790 Office expenses 2,500 Advertising expenses 1,660 Insurance 2,870 Miscellaneous expenses Total expense Net operating income 525 25,195 $ 13,755 Flexible Planning Budget Budget Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February: Fixed Component per Month Variable Component Revenue per Job $ 278 Actual Total for February $ 38,950 Technician wages $ 8,000 $ 7,850 Mobile lab operating expenses $ 4,700 $ 35 $ 9,790 Office expenses $ 2,200 $ 3 $ 2,500 Advertising expenses $ 1,590 $ 1,660 Insurance $ 2,870 Miscellaneous expenses $ 920 $ 2 $ 2,870 $ 525 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,700 plus $35 per job, and the actual mobile lab operating expenses for February were $9,790. The company expected to work 150 jobs in February, but actually worked 156 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity variances for February. (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.) AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Jobs Actual Results 156 $ 38,950 Revenue Expenses: Technician wages 7,850 Mobile lab operating expenses 9,790 Office expenses 2,500 Advertising expenses 1,660 Insurance 2,870 Miscellaneous expenses Total expense Net operating income 525 25,195 $ 13,755 Flexible Planning Budget Budget