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: Tip Top Flight School Variance Report For the Month Ended July 31 Actual Planning ResultsBudget Variances 190 Lessons Revenue $ 42.720 $41.800 $920 F Expenses: Instructor wages Aircraft depreciation Fuel Maintenance Ground facility expenses Administration 12,360 12,160 200 U 7,220 190 U 3,610 490 U 3,130 140 U 2,210 85 F 4,330 4,390 60 F 7,410 4,100 3,270 2,125 Total expense 33,595 32,720 875 U Net operating income 9,125 $ 9,080 S 45 F