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TipTop Filght School offers flying lessons at a small municipal atrport. The schoor's owner and manager has been attempung to evaluate performance and control costs

image text in transcribed TipTop Filght School offers flying lessons at a small municipal atrport. The schoor's owner and manager has been attempung to evaluate performance and control costs using a variance report that compares the planning budget to actual results. A recent vartance report appears below: After several months of using these reports, the owner has become frustrated. For example. she is quite confident that instructor wages were very ilghtly controlled in July, but the report shows an unfavorable varlance. The planning budget was developed using the following formulas, where q is the number of lessons sold: Required: 2. Complete the flextble budget performance report for the school for July. (indicate the effect of each varlance by selecting " F " for favorable, "U" for unfavorable, and "None" for no effect (1.e., zero varlance). Input all amounts as positive values.)

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