14. 1.50 points Mt. Hood Air offers scenic overflights of Mt Hood and the Columbia River gorge. Data concerning the company's operations in August appear below Hood Operating Data For the Month Ended August 31 Planning Flexible Actual Flights (Q) Revenue (S355.00q) 56 58 58 $19,880 $20,590 $16,400 Fuel ($30.00q) Airport fees ($860 $34.00q) Aircraft depreciation (59.00q) Wages and salaries (53,800 $91.00q)8,8969,0789,036 1,6801,7401,910 2,764 2,832 2,832 522 504 286 522 288 Office expenses ($230+ $1.00q) Total expense Net operating income 456 14,130 14,460 14,756 6,130 $ 1,644 5,750 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. Complete the flexible budget performance report abstract for August. (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.) Mt. Hood Air Flexible Budget Performance Report For the Month Ended August 31 Activity Variances Revenue and Spending Variances Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expense Net operating income