The company measures its activity in terms of flights. Customers can buy individual tickets for overnights orhire an entire plane for an overfight at a discount. Required: 1. 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 (Le, zero variance). Input all amounts as positive values.)