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 Planning Budget Flights (q) Revenue ($345.00g) Expenses: Wages and salaries ($3,100 + $91.00q) Fuel ($33.00q) Airport fees ($830 +$31.000) Aircraft depreciation ($10.00q) Office expenses ($220 +$1.000) Total expenses Net operating income 61 61 59 $ 16,100 $ 21,045 $ 20,355 8,609 8,651 8,469 2,177 2,013 1,947 2,591 2,721 2,659 610 610 590 449 281 14,436 14,276 $ 1,664 $ 6,769 13,944 $ 6,411 279 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. 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 (l.e., zero variance). Input all amounts as positive values. Vulcan Flyovers Flights Actual Results 611 $ 16,100 Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Planning. Budget 61 59 $ 21,045 $ 20,355 Revenue Expenses: Wages and salaries 8,609 Fuel 2,177 8,651 2,013 8,469 1,947 Airport fees 2,591 2,721 2,659 Aircraft depreciation 610 610 590 Office expenses 449 281 279 Total expenses 14,436 14,276 13,944 Net operating income. $ 1,664 $ 6,769 $ 6,411