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$)555553$

Revenue $($$$350\mathrm{.}00$q$)$ $ $16,500$ $ $19,250$ $ $18,550$

Expenses:

Wages and salaries $($$$3,100+$ $$87\mathrm{.}00$q$)7,8517,8857,711$

Fuel $($$$31\mathrm{.}00$q$)1,8731,7051,643$

Airport fees $($$$820+$ $$30\mathrm{.}00$q$)2,3602,4702,410$

Aircraft depreciation $($$$9\mathrm{.}00$q$)495495477$

Office expenses $($$$240+$ $$1\mathrm{.}00$q$)463295293$

Total expenses $13,04212,85012,534$

Net operating income $ $3,458$ $ $6,400$ $ $6,016$

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 filghts. Customers can buy Indlividual tickets for overflights or hire an entire plane at a

discount.

Required:

Prepare a flexible budget performance report for July.

Note: Indlcate the effect of each variance by selecting $"$F$"$ for fovorable, $"$U$"$ for unfovorable, and "None" for no effect $($l$.$e$.,$ zero

varlance$).$ Input all amounts as positlve values.