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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 Variable Actual Component Component Total for per Month per Job February Revenue $ 275 $ 33,000 Technician wages $ 8,200 $ 8,050 Mobile lab operating expenses $ 4,900 $ 31 $ 8, 770 Office expenses $ 2,700 $3 $ 2,940 Advertising expenses $ 1,610 $ 1,680 Insurance $ 2,870 $ 2,870 Miscellaneous expenses $ 980 $ 2 $ 545 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,900 plus $31 per job, and the actual mobile lab operating expenses for February were $8,770. The company expected to work 130 jobs in February, but actually worked 134 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 (1.e., zero variance). Input all amounts as positive values.) Air Qual Test Corporation Flexible Budget Performance Report For the Month Ended February 23 Actual Results Revenue and Spending Variances Flexible Budget Activity Variances Planning Budget 134 $ 33,000 Jobs Revenue Expenses: Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses Total expenso 8,050 8,770 2,940 1.680 2,870 545 24,855 8,145 $ Net operating income

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