Exercise 9-7 (Static) Flexible Budgets and Activity Variances [LO9-1, LO9-2] Jake's Roof Repair provided the following data concerning its costs: Fixed Cost Cost per per Month Repair-Hour Wages and salaries $ 23,200 $ 16.30 Parts and supplies $ 8.60 Equipment depreciation $ 1,600 $ 0.40 Truck operating expenses Rent $ 6,400 $ 1.70 $ 3,480 $ 4,500 $ 0.80 Administrative expenses For example, wages and salaries should be $23,200 plus $16.30 per repair-hour. The company expected to work 2,800 repair- hours in May but actually worked 2,900 repair-hours. The company expects its sales to be $44.50 per repair-hour. Required: Compute the company's activity variances for May. Note: Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (I.e.. zero variance). Input all amounts as positive values. Revenue Answer is complete but not entirely correct. Jake's Roof Repair Activity Variances For the Month Ended May 31 $ 129,050 Expenses: Wages and salaries 70,470 U Parts and supplies 24,940 U Equipment depreciation 2,760 U Truck operating expenses 11,330 U 3,480 U Rent Administrative expenses Total expenses Net operating income 6,820 U 119,800 U $ 9,250 F