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 Actual Results Flexible Budget Flights (q)) Revenue ($340.009) Expenses: Wages and salaries ($3,600 +$85.00q) Fuel ($34.00q) Airport fees (5850 +$31.00g) Aircraft depreciation ($8.000) Office expenses ($200 + $1.004) Total expenses Net operating income Planning Budget 59 59 57 $ 16,500 $ 20,060 $ 19,380 8,585 8,615 8,445 2,168 2,006 1,938 2,549 2,679 2,617 472 472 456 427 259 257 14,201 14,031 13,713 $ 2,299 $ 6,029 $ 5,667 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. Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Actual Results Flights 59 Flexible Budget Planning Budget 59 57