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:

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 offers scenic overflights of Mount Saint Helens. Data concerning the company$$s operations in July appear below:Required:

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

Operating Data

For the Month Ended July $31$

Actual Results Flexible Budget Planning Budget

Flights $($q$)565654$

Revenue $($$$340\mathrm{.}00$q$)$ $ $16,000$ $ $19,040$ $ $18,360$

Expenses:

Wages and salaries $($$$3,200+$ $$85\mathrm{.}00$q$)7,9307,9607,790$

Fuel $($$$31\mathrm{.}00$q$)1,9041,7361,674$

Airport fees $($$$830+$ $$34\mathrm{.}00$q$)2,6092,7342,666$

Aircraft depreciation $($$$8\mathrm{.}00$q$)448448432$

Office expenses $($$$210+$ $$1\mathrm{.}00$q$)434266264$

Total expenses $13,32513,14412,826$

Net operating income $ $2,675$ $ $5,896$ $ $5,534$

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.