Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($340.009) Expenses: Wages and salaries ($3,500 + $88.009) Fuel ($33.009) Airport fees ($850 + $31.009) Aircraft depreciation ($9.009) Office expenses ($240 + $1.00q) Total expenses Net operating income Actual Results Flexible Budget Planning Budget 58 58 56 $ 16,400 $ 19,720 $ 19,040 8,568 8,604 8,428 2,078 1,914 1,848 2,543 2,648 2,586 522 522 504 466 298 296 14,177 13,986 13,662 $ 2,223 $ 5,734 $ 5,378 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a discount. Required: 1. Prepare a flexible budget performance report for July. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.