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 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 Results Budget Variances 175 170 Lessons Revenue $38,310 $ 37,400 $910 F Expenses. Instructor wages Aircraft depreciation Fuel Maintenance Ground facility expenses Administration 10,870 6,300 3,650 2,490 2,420 4,305 10,710 160 U 6,120180 U 3,230420 U 2,370120 U 70 F 65 F 2,490 4,370 Total expense 30,035 29,290745 U Net operating income $ 8,275 $ 8,110 $165 F