Faggs Corporation bases its budgets on the activity measure customers served. During December, the company planned to serve 33,000 customers, but actually served 36,000 customers. The company has provided the following data concerning the formulas it uses in its budgeting: 
Required:
Prepare a report showing the company's activity variances for December. Indicate in each case whether the variance is favorable (F) or unfavorable (U).
Definitions:
Concept Tests
The evaluation of consumer response to an idea before introducing a product to the market to assess its viability.
New-product Development
The process of bringing a new product to the market, including ideation, design, development, and launch.
Business Analysis
The practice of identifying business needs and determining solutions to business problems.
Marketing Strategy
A comprehensive plan formulated by businesses to reach potential consumers and turn them into customers of their products or services.
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