TipTop Flight School offers flying lessons at a small municipal airport. The schools 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 variance report appears below: TipTop Flight School Variance Report For the Month Ended July 31 Actual Results Planning Budget Variances Lessons 200 195 Revenue $ 49,810 $ 48,750 $ 1,060 F Expenses: Instructor wages 13,815 13,650 165 U Aircraft depreciation 8,000 7,800 200 U Fuel 3,780 3,120 660 U Maintenance 3,350 3,185 165 U Ground facility expenses 2,250 2,340 90 F Administration 3,575 3,695 120 F Total expense 34,770 33,790 980 U Net operating income $ 15,040 $ 14,960 $ 80 F After several months of using these 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:

	Cost Formulas
Revenue	$250q
Instructor wages	$70q
Aircraft depreciation	$40q
Fuel	$16q
Maintenance	$650 + $13q
Ground facility expenses	$1,950 + $2q
Administration	$3,500 + $1q

Required: ?.Complete the flexible budget performance report for the school for July. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect i.e., zero variance). Input all amounts as positive values