Can you please show me how to work this out?

1). 7 points Tip Top Flight School offers flying lessons at a small municipal airport. The school's owner and manager has been attempting to evaluate performance and control costs using a variance report that compares the planning budget to actual results. A recent variance report appears below: TipTop Flight School Variance Report For the Month Ended July 31 Actual Planning Results Budget Varlances Lessons .... 155 150 Revenue. $33,900 $33,000 $900 F Expenses: Instructor wages.... 9,870 9,750 120 U Alrcraft depreciation 5.890 5.700 190 U Fuel...... 2,750 2,250 500 U Maintenance .......... 2,450 2,330 120 U Ground facility expenses... 1,540 1,550 10 F Administration..... 3,320 3,390 70 F Total expense 25,820 24,970 850 U $ 8,080 Net operating Income. $ 8,030 $ 50 F After several months of using such variance reports, the were very tightly controlled in July, but the report shows an unfavo The planning budget was developed using the following formulas, where Ports, the owner has become frustrated. For example, she is quite confident that instructor wages report shows an unfavorable variance. wing formulas, where is the number of lessons sold: Cost Formulas Revenue... Instructor wages..... Alrcraft depreciation ........ Fuel...... Maintenance ............ Ground facility expenses.. Administration... $2204 $65q $384 $154 $ 530 + $129 $1,250 + $29 $3,240 + $19 Required: 1 Prepare a flexible budget performance report for the school for July 2 Evaluate the school's performance for July. Use grid on Page 3. TipTop Flight School Flexible Budget Performance Report For the Month Ended July 31 Revenue and Actual Spending Flexible Activity Results Variances Budget Variances 155 $33,900 Planning Budget 150 $33,000 9,870 9,750 5,890 2,750 5,700 2,250 Lessons (q)...... Revenue ($2209) ............. Expenses: Instructor wages ($659) .. Aircraft depreciation ($389).. Fuel ($159)..... Maintenance ($530 + $129).......... Ground facility expenses ($1,250 + $29)............ Administration ($3,240 + $19)...... Total expense .......... Net operating income ......... 2,450 2,330 1,550 1,540 3,320 25,820 $ 8,080 3,390 24,970 $ 8.030