Flights (g) Revenue ($340.00g) Expenses: Wages and salaries ($3,100 + $90.00g) Fuel ($32.00g) Airport fees ($800+ $34.00g) Aircraft depreciation ($11.00g) Office expenses ($220 + $1.00g) Total expense Net operating income Vulcan Flyovers Operating Data For the Month Ended July 31 Flights Revenue Expenses: Wages and salaries Fuel Airnort feeS Actual Results $ Actual Results 55 16,200 55 $ 16,200 8,010 1,926 2 555 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. Flexible Budget 8,050 8,010 1,926 2,555 1,760 2,670 605 443 13,539 605 275 13,360 $ 2,661 $ 5,340 

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.) 55 $ 18,700 < Prev Vulcan Flyov