Exercise 9-4 (Algo) Prepare a Flexible Budget Performance Report [LO9-4]

Vulcan Flyovers offers scenlc 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: 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 varlances and actlvity varlances. (Indleate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance). Input all amounts as positive values.)