Check my work 3 Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State that explosively erupted in 1982. Data concerning the company's operations in July appear below: 2 points eBook Flexible Budget 55 $ 19, 250 Planning Budget 53 $ 18,550 Hint Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Results Flights (9) 55 Revenue ($350.009) $ 16,200 Expenses: Wages and salaries ($3,200 + $92.00) 8,216 Fuel ($34.002) 2,032 Airport fees ($850 + $35.00g) 2,640 Aircraft depreciation ($10.000) 550 Office expenses ($230 + $1.009) 453 Total expense 13,891 Net operating income $ 2,309 Print References 8,260 1,870 2,775 550 285 13,740 $ 5,510 8,076 1,802 2,705 530 283 13, 396 $ 5,154 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.) Check my work 3 . 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.) 2 points eBook Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Hint Actual Results Planning Budget 53 Print 55 55 References $ 16.200 $ 19,250 $ 18,550 Flights Revenue Expenses: Wages and salaries Fuel 8.216 8,260 8,076 2,032 1,802 Airport fees 2,640 1,870 2,775 550 2,705 Aircraft depreciation 550 530 Office expenses 453 285 Total expense 13,891 2,309 13,740 5,510 283 13,396 5,154 $ Net operating income $ $