t Vulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Washington State that explosively erupted in 1982. Data concerming the below company's operations in Juty appear Operating Data For the Month Ended July 31 Actual Flexible Planning Flights (4) Revenue ($355.00q) Expenses: 53 53 $16,300 $18,815 $18,105 Wages and salaries ($3,600 $89.004) 8,279 8317 8,139 1,590 Fuel ($30.00q) Airport fees ($860 +$30.00g) Airoraft depreciation ($10.00) Office expenses ($230+ $1.00q) 1,760 1,530 2.40 24S0 2300 530 510 281 630 283 Total expense Net operating income 2,940 $5,645 5,255 The company measures its activity in terms of flights Customers can buy individual tickets for overftights or hire an jentire plane for an overftight at a discount Required 1. Complete the fexible budgot performance report abstract for July, (indicate the effect of each variance by selecting P" for favorable, U" for unfeverabis, and "None" for ne effect (i.e, zero variance). Input all amounts as positive values Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Revenue and Spending Variances Activity Variances Revenue Expenses Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expense Net operating income