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AlrQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formules and actual results for the month of February Fixed Component Variable Actual Total per Month Component per Job for February Revenue $ 277 5 36,030 Technician wages $ 8,400 $ 8,250 Mobile lab operating expenses $ 4,800 $31 $ 8,988 Office expenses $ 2,800 $ 4 $ 3,218 Advertising expenses $ 1,560 $ 1,630 Insurance $ 2,890 $ 2,890 Miscellaneous expenses $ 960 $2 $ 545 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,800 plus $31 per job, and the actual mobile lab operating expenses for February were $8,980. The company expected to work 140 jobs in February, but actually worked 146 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 (ie, zero variance). Input all amounts as positive values.) AlrQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Flexible Results Budget Planning Budget Jobs 146 $ 36,030 Revenue Expenses 67 Chapter 9 Assignment Flexible Budgets Saved 1 Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances variances for February (Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, an effect (i.e., zero variance). Input all amounts as positive values.) AlrQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Flexible Results Budget ook Planning Budget Jobs 146 int $36,030 ences Revenue Expenses Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses Total expense Net operating income 8,250 8.980 3,210 1.630 2,890 545 25,505 $ 10,525