Help Save & Exit Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State that explosive erupted in 1982. Data concerning the company's operations in July appear below Valcon Flyovers Operating Data For the Month Ended July 31 Actual Flexible Planning Results Flights (9) Budget Budget 54 54 52 Revenue ($350.009). $ 16,300 $ 18,900 $ 18,200 Expenses : Wages and salaries ($3,400 + $92.009) 8,324 8,368 8,184 Puel ($30.009) 1,790 1,620 1,560 Airport fees ($860 + $33.009) 2,512 2,642 2,576 Aircraft depreciation ($10.000) 540 540 520 Office expenses ($230 + $1.00) 452 284 282 Total expense 13,618 13,454 13,122 Net operating income $ 2.682 5,446 $ 5,078 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hi 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 ac variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "No no effect (i.e., zero variance). Input all amounts as positive values.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Actual Results Plant Bud 54 16,300 54 $ $ 18,900 $ Flights Revenue Expenses: Wages and salaries Fuel Airport fees 8,324 8,368 1,790 1.620 2,5121 2,642 Prey 1 of 3 ME Next >