Vikan Flyovers offers scenic overflights of Mount St Helens, the volcano in Washington State that explosively erupted in 1982. Data concerning the company's operations in July appear below: Wulcan Flyovers Goorin Data For the Month Ended July 31 Actual Flexible Purina Results Budot Budget Flights 5 59 57 Revenge 30.000 1 1625 Espenser wes and calles (33.300 1.000) 8.627 8.00 8.48 Fuel (533.000 2.111 1.947 Airport form (58.20 3330001 1 881 2.817 2.757 2701 Aircraft depreciation (58 00) 472 412 156 Office ($2.10 . $1.000) 237 21.9 26.7 Totalte 19 torting in $ 2.036116 $5,728 The company measures its activity in terms of hights Customers can buy individual tickets for overflights or hire an entire plane for an overflight at a discount 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 effectie, zero variance). Input all amounts as positive values.) Vulcan Flyovers overflight at a discount Required: 1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity varlances. (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.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 59 Actual Results Planning Budget 57 Flights 59 $ 16 3001 $ 21 240 5 20.520 8 600 1 047 Rovun Expenses Wages and lanes Full Airport foes Arcal depreciation Office expenses Total expense Net operating income 2.707 3.627 2.111 2.617 472 437 14264 472 200 14.124 7. 116 8.487 1,881 2.701 450 267 13,72 8.728 $ 2.036 $ $