Check my work 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 (.e., zero variance). Input all amounts as positive values.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 61 Actual Results Planning Budget -59 Flights 61 $ 16,500 $ 21,655 $ 20,945 Revenue Expenses Wages and salarios Fuel 8.414 8.446 2.118 2,621 1.952 2,721 488 291 Airport foos Aircraft dopreciation Office expenses Total expense Not operating income 488 8274 1,888 2,659 472 289 13,582 7,363 459 14.100 2,400 13,898 7.757 $ $ $