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 Budget Budget Flights (q) $ 16,100 $ 21,045 $20,355 8.450 2,859 2,677 Revenue ($345.00) Expenses: Wages and salaries ($3,000 - $90.00) Fuel ($31.089) Airport fees ($850 + $32.009) Aircraft depreciation ($10.009) office expenses ($200 - $1.689) Total expense Net operating income 8,490 1,891 2,802 1,829 2,738 612 610 590 429 261 259 14, 225 14,054 13.726 $ 1,875 $ 6,991 $ 6,629 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 (i.e., zero variance). Input all amounts as positive values.) 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.) Astro Alrlines Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Actual Results Planning Budget Flights Revenue 16,100 21,0457 20,355 Expenses: Wages and salaries 8.310 Fuel 1.829 2.738 8,450 2,059 2,677 610 429 14.225 Airport fees Aircraft depreciation Office expenses Total expense Net operating income 8,490 1,891 2,802 610 2611 14,064 6,991 590 13.726 1.875 6,629