Check my work 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 Budget Flights (9) 55 23 53 $16,200 $19,525 $18,815 Revenue ($355.009) Expenses: Wages and salaries ($3,000 + $86.009) Fuel ($31.009) Airport fees ($820 + $34.009) Aircraft depreciation ($10.009) Office expenses ($240 + $1.009) Total expense Net operating income 7,698 7,730 7,558 1,873 1,705 1,643 2,560 2,690 2,622 550 550 530 463 295 293 13, 144 12,970 12,646 $ 3,056 $ 6,555 $ 6,169 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.) Overgrils Of me all erilite pratie To all overignal a uiscourl. 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.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 55 Actual Results Planning Budget Flights $ 16,200 $ 19,5257 18,815 Revenue Expenses: Wages and salaries Fuel 7,7301 7,558 7,698 1,873 2,560 Airport fees Aircraft depreciation Office expenses Total expense Net operating income 550 4631 13,144 3,056 1,705 2,690 550 295 12,970 6,555 1,643 2,622 530 293 12,646 6,169 $ $ $