value: 7.50 points TipTop Filight 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 Actual Planning Results BudgetVariances Lessons Revenue 175 170 $35,820 $34,850 $970 F Expenses Instructor wages Aircraft depreciation Fuel Maintenance Ground facility expenses Administration 10,860 7,000 3,670 2,800 2.550 4.280 10,710 150 U 6.800 200 U 3,230 440 U 2.680 120 U 90 F 4.34060 F 2.640 Total expense 31.16030.400 760 U Net operating income s 4,660 4.450 $210 F