ext/map/index.html?con con&external browser=0&launchUrlhttps%253A%252F%252Fims.mhedu ant-Flexible Budget Save 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) 56 56 54 Revenue (5355.009) 5. 16.400 $ 19,890 $ 19, 170 Expenses: Wages and salaries ($3,700 + $85.009) 8,439 8,460 8,290 Fuel ($32.ee) 1,958 1,792 1,728 Airport fees ($820 + $31.000) 2,415 2,556 2,494 Aircraft depreciation ($8.009) 432 office expenses (5248 + $1.099) 464 296 294 Total expense 15, 216 13,552 13,238 Net operating income 52,6146,328 5.932 448 448 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 (ie. zero variance). Input all amounts as positive volues.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 OZA Sucat mment Flexible Budget Savie 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.) Vulcan Flyavers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Actual Results 58 Planning Budget 54 Flights 56 $ 16.400 19,880 $ 19.170 Revenue Expenses Wages and salaries Fuel 8,290 8.430 1958 2.416 8.450 1.792 1,728 2494 448 432 Airport fons Aircraft depreciation Office expenses Total expense Net operating income 464 2 556 448 296 13.552 8.328 294 13,716 2,684 13,239 5,932 $ S S