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$)616159$

Revenue $($$$340\mathrm{.}00$q$)$ $ $16,400$ $ $20,740$ $ $20,060$

Expenses:

Wages and salaries $($$$3,600+$ $$90\mathrm{.}00$q$)9,0509,0908,910$

Fuel $($$$33\mathrm{.}00$q$)2,1772,0131,947$

Airport fees $($$$880+$ $$35\mathrm{.}00$q$)2,8803,0152,945$

Aircraft depreciation $($$$10\mathrm{.}00$q$)610610590$

Office expenses $($$$230+$ $$1\mathrm{.}00$q$)459291289$

Total expenses $15,17615,01914,681$

Net operating income $ $1,224$ $ $5,721$ $ $5,379$

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.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.