Lessons Revenue Expenses: Instructor wages TipTop Flight School Flexible Budget Performance Report For the Month Ended July 31 Actual Results 180 $ 41,290 10,645 Aircraft depreciation 6,840 Fuel 3,090 Maintenance 2,700 Ground facility expenses 2,470 Administration 3,885 Total expense 29,630 Net operating income $ 11,660 Flexible Budget Planning Budget 175 $ 40,250 10,500 6,650 2,450 2,555 2,550 3,985 28,690 $ 11,560