14 Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State that explosively a concerning the company's operations in July appear below: Vulcan Yiyovers operating Data For the Month Ended July 31 Actu Flexible ini Flights 9) Healta Budget Rovence ($345.000) 56 56 54 Expenses 113.630 Wages and salaries (53,400 + 591.004) Fuel (932.0093 8.454 3,496 8.14 1.958 1.792 Airport to $870 $30.000) 1.728 2.415 2.550 Alrerart depreciation (98.000) 2.490 440 440 422 Orice expenses (3210 + 51.000) 434 266 Total expense 13,209 13,552 12.220 Net operating income $ 2.491 5.5.768 $ 5,402 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 effectie., zero variance). Input all amounts as positive values.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31