10 11 Mulcan Flyvers offers scenic overights of Mount St Helens, the volcane in Washington State that ply rued in 1982. Data oncerning the company's operations July appear tre Flights (9) Ravenue ($350,00 Expenses For the healy Actual Flash Flaming SE Magua and salaries 193,700 $93.00g) Piel (831.0001 Airport fee (0020 $35.00g) Alrerats depreciation ($10.00g) office expenses (0220 +$1.00g) Total expense Net operating income 3.16,300 $31, 9,300 9,404 2.090 9,330 1,932 1,860 2,855 620 450 15,375 3,990 3,930 6201 600 300 19910 825 6,482 000 6,120 Save & Ex The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane for an overflight at a discount. Required: 1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances. (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.) Flights Revenue Expenses: Wages and salaries Actual Results 62 $ 16,200 9,360 Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 62 $ 21,700 9,404 Planning Budget 60 $ 21,000) 9,220