Problem 9-22 Critique a Report; Prepare a Performance Report [LO9-1, LO9-2, LO9-3, LO9-4, LO9-6] TipTop Flight School offers flying lessons at a small municipal airport. The school's owner and manager has been attempting to evaluate performance and control costs using a variance report that compares the planning budget to actual results. A recent varian report appears below Variance Report For the Month Ended July 31 Actual Planning Results 155 Revenue 36,928 36,88 $ 928 F Instructor wages Aircraft depreciation Fuel Maintenance Ground facility expenses Administration 9,870 9,758 128U 4,800 160 U 1,950 520 U 2,280 2,160 128 u 20 F 80 F 23.880 82e U $ 12,22e s 12,120 $ 100 F 4,960 4,see 2,429 1,688 24.700 1,700 3,528 Total expense After several months of using such variance reports, the owner has become frustrated. For example, she is quite confident that instructor wages were very tightly controlled in July, but the report shows an unfavorable variance. The planning budget was developed using the following formulas, where q is the number of lessons sold: 248q $65q $32q $13q $518 $11q $1,25e$34 $3,228$2q Instructor wages Maintenance Ground facility expenses Administration Required: 2. Complete fevorable, "U" for unfevorable, and "None" for no effect tie zero yarinncel lnptellmounte s mance report for the school for July. (Indicate the effect of each variance by selecting "F for