Astro Airlines provides flyovers of Minute Maid Stadium and downtown for tourists. Data concerning the company's operations in July appear below: Astro Airlines Operating Data For the Month Ended July 31 Actual Flexible Planning Results Flights (9) Budget Budget 54 54 52 Revenue ($355.000) $ 16,300 $ 19,170 $ 18,460 Expenses: Wages and salaries ($3,100 + $87.009) 7,764 7,798 7,624 Fuel ($32.00) 1,894 1,728 1,664 Airport fees ($870 + $33.009) 2,542 2.652 2,586 Aircraft depreciation ($10.009) 540 540 520 office expenses ($250 + $1.009) 472 304 302 Total expense 13,212 13,022 $ 3,088 $ 6,148 $ 5,764 Net operating income Tourists can purchase tickets individually or hire an entire plane at a discount. Astro Airlines measures its activity in terms of flights 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 (le, zero variance). Input all amounts as positive values.)