TipTop Flight School offers flying lessons at a small municipal airport. The school's 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 Planning ResultsBudget Variances 180 Lessons Revenue 185 $38,790 37,800 $990 F Expenses Instructor wages Aircraft depreciation Fuel Maintenance Ground facility expenses Administration 11,500 6,660 3,830 2,920 1,915 4,285 11.340 60U 6,480 180 U 3.420 410 U 2,800 120 U 1,990 75 F 4,380 95 F Total expense 31,110 30,410 700 U Net operating income $ 7,680 7,390 $290F