Homework - Problem #1 EXERCISE 9-17 Flexible Budget Performance Report LO9-1, LO9-2, LO9-3, LO9-4 AirQual Test 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 per Job $360 Revenue ........ Technician wages....... Mobile lab operating expenses.. Office expenses ... Advertising expenses ............. Insurance .......... Miscellaneous expenses ........ $35 $2 $6,400 $2,900 $2,600 $970 $1,680 $500 Actual Total for February $18,950 $6,450 $4,530 $3,050 $995 $1,680 $465 $3 The company uses the number of jobs as its measure of activity. For example, mobile lab operat- ing expenses should be $2,900 plus $35 per job, and the actual mobile lab operating expenses for February were $4,530. The company expected to work 50 jobs in February, but actually worked 52 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity variances for February