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 Planning Results Budget Variances Lessons 220 215 S 56,890 S 55,900 S 990 F Revenue Expenses: Instructor wages Aircraft depreciation Fuel Maintenance Ground facility expenses 16,315 16,125 190 U 7,095 165 U 3,440 590 U 3,590 190 U 55 F 3,790 115 F 36.285 965U S19,640 S 19,615 25 F 7,260 4,030 3,780 2,190 3,675 2,245 37.2 Total expense Net operating income After several months of using such variance reports, the owner has become frustrated. For example, she is quite conflident 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 Instructor wages Aircraft depreciation Fuel $75q $33q $164 $580 $14q $1,600 $3q Ground facility expenses 3,360$ 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.)