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Air Qual 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 Variable Actual Component Component Total for per Month per Job February Revenue $ 277 $ 33,260 Technician wages $ 8,300 $ 8,150 Mobile lab operating expenses $ 4,600 $ 34 $ 8,860 Office expenses $ 2,200 $.4 $ 2,570 Advertising expenses $ 1,550 $ 1,620 Insurance $ 2,870 $ 2,870 Miscellaneous expenses $ 950 $ 1 $ 385 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,600 plus $34 per job, and the actual mobile lab operating expenses for February were $8,860. The company expected to work 130 jobs in February, but actually worked 132 jobs Required: Prepare a flexible budget performance report showing Air Qual 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.) AlrQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Flexible Budget Planning Budget Results 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.) AlrQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Flexible Results Budget Planning Budget 132 $ 33,260 Jobs Revenue Expenses Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses Total expense Net operating income 8,150 8,860 2,570 1,620 2,870 385 24,455 $ 8,805

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