Tourists can purchase tickets individually or hire an entire plane at a discount. Astro Airlines measures its activity in terms of flights Required: 1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance). Input all amounts as positive values.) Astro Airlines Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Actual Results Flights Planning Budget 50 52 52 $ 16,300 $ 18.200 $ 17 500 8.490 1.730 Revenue Expenses Wages and salaries Fuel Airport loos Aircrait depreciation Office expenses Total expense Net operating income 2.453 520 8,532 1.500 2578 520 292 13 482 8,350 1,500 2,510 500 290 13 150 4,350 400 13.653 $ 2.647 4.718 $