Check my w Exercise 9.4 (Algo) Prepare a Flexible Budget Performance Report [LO9-4) Vulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Washington State that explosively erupted in 1982. Dota concerning the company's operations in July appear below. Vulcan Plyovern Operating Data For the Month Ended July 31 Actual Plexible Planning Renults Budget Flights (9) Budget 54 54 52 Revenue ($360.000) $ 16,200 $ 19,440518.720 Expenses Wages and salaries ($3,600 + $90.000) 8,420 8,460 8,280 Fuel ($33.009) 1,946 1,782 1,716 Airport fees ($830 + $33.000) 2,502 2.612 2,546 Aircraft depreciation ($8.009) 432 432 416 office expenses ($240 + $1.009) 462 294 292 Total expense 13,762 13,500 13.250 $ 2,438 $ 5,860 $ 5,470 Net operating income 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 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 vonance Indicate the effect of ench variance by selecting "F" for favorable, "U" for unfavorable, and "None for no effect fi.e., zero variance). Input all amounts as positive values.) 10 points ook Hom Vulcan Flyover Flexible Bluet Performance Report For the Month Ended July 3 Flexible Activity Variances Budou Planning Actual Results Roverve and Spending Variances 54 mences 54 52 10,200 $ 5 10.440 $ 10.720 200 3,420 1940 2502 400 1.782 2512 1.710 2.546 Revenue Expenses Wages and balans Fuel Airport foon Aircraft depreciation Omce expenses Total expense Net operating income 432 416 432 462 294 292 13.250 5.470 13.580 5,860 13,762 $ $ $ 2,438