Check my work 4. 1428 points Vulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Washington State that explosively erupted in 1982. Data concerning the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Flexible Planning Results Budget Hudget Tights (9) 59 59 57 eBook Hint $ 16,300 $ 20,650 $ 19,950 References Revenue ($350.009) Expenses Wages and salaries (53,100 + $87.009) Fuel (534.0091 Airport fees (5840 + $33.000) Aircraft depreciation (511.000) office expenses (6230 + $1.009) Total expense Het operating income 8,199 8.233 8,059 2.168 2,006 1,930 2,652 2,787 2,721 649 649 627 457 289 2017 13,964 13,632 $ 2,175 $ 6,686 $ 6,318 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 "P" for favorable, "U" for unfavorable, and "None" for no effect ... zero variance). Input all amounts as positive values.) Vulcan Flyovers 1. Prepare a nexible puuget periormance report for Jury that includes revenue and spending vanances and activity variance the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero varian all amounts as positive values.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Revenue and Spending Flexible Variances Budget 59 Actual Results Activity Variances Planning Budget 57 Flights 59 $ Revenue $ 16,300 s 20,650 19,950 8,199 8,233 8,059 1,938 2,721 2,006 2,168 2,652 Expenses: Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expense Net operating income 2,787 649 627 649 287 457 14,125 2,175 289 13,964 6,686 13,632 6,318 S $ $