Expenses: Wages and salaries ($3,400 + $89.009) Fuel ($33.000) Airport fees ($810 $30.00) Aircraft depreciation ($10.069) office expenses (5210 + $1.000) Total expense Net operating income 8,435 8,473 8,295 2,845 1,881 1,815 2,105 2,520 2,460 570 550 435 267 265 13,890 13,211 13,385 $ 2,310 $ 6,524 $ 6,140 570 Tourists can purchase tickets individually or hire an entire plane at a discount. Astro Airlines measures its activity in terms of flights 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 (ie, zero variance). Input all amounts as positive values.) Astro Airlines Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Actual Results Flights Planning Budget 55 57 57 Revenue $ 16.2007 s 4,0350 $ 20 235s 7101 $ 19,525 38 Expenses Wages and salaries Fuel Airport foes 178 8.435 2,045 8,295 8.473 1,881 86 1.815 2.405 115 2,520 601 2.460