The company measures its activity in terms of flights. Customers can buy indwidual tickets for avertilghts or hire an entire plane for an overflight at a discount. Required: 1. Prepare a flexible budget performance report for July that includes ifvenue and spending variances and activity vaciances findicate the effect of each variance by selecting " F " for favoroble, " U for unhovorable, and "None" for no effect (lie., zera variance), input ill amounts as positive values.) all amounts as positive values.)