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 Lessons Revenue Expenses: Instructor vages Aircraft depreciation Fuel Maintenance Ground facility expenses Administration: Total expense ces Net operating income Actual Results 175 Planning Budget Variances 170 $ 36,640 $ 35,700 $ 940 P 8,640) 8,500 140 U 6,300 6,120 180 U 2,410 1,870 540 U 2,030 1,890. 140 U 1,660 1,690 30 F 3,340 3,430 90 P 24,380 23,500 880 U $ 12,260 $ 12,200 $ 60 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: Revenue Instructor vages Aircraft depreciation Cost Formulas. $210q $500 $36g $114 $530 +$84 Ground facility expenses $1,350 +$2q $3,260 +$19. Fuel Maintenance Administration Required: 2. Complete the flexible budget performance report for the school for July. (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.)