Exercise -4 repare a-exible Budget Performance Report ILO -4 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 56 Flights (g) 58 16,300 20,880 20,160 Revenue ($360.00q) Expenses Nages and salaries ($3,700+$89.00g) Fuel ($32.00q) Airport fees ($840 $35.00g) Aireraft depreciation ($8.00g) Office expenses ($210 $1.00g) 8,684 1,856 1,792 2,750 2,870 2,800 448 266 8,824 2,022 8,862 464 436 464 268 496 14,320 13,99 Total expense Net operating income 1,804 6,560 6,170 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