Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the companys operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Results Flexible Budget Planning Budget Flights (q) 54 54 52 Revenue ($360.00q) $ 16,100 $ 19,440 $ 18,720 Expenses: Wages and salaries ($3,600 + $87.00q) 8,264 8,298 8,124 Fuel ($31.00q) 1,842 1,674 1,612 Airport fees ($860 + $32.00q) 2,473 2,588 2,524 Aircraft depreciation ($10.00q) 540 540 520 Office expenses ($210 + $1.00q) 432 264 262 Total expenses 13,551 13,364 13,042 Net operating income $ 2,549 $ 6,076 $ 5,678 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a disco

Exercise 9-4 (Algo) Prepare a Flexible Budget Performance Report [LO9-4] Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: 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