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Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: table [ [ table [

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Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below:
\table[[\table[[Vulcan F],[Operati],[For the Month]],\table[[ly 31],[Actual],[Results]],\table[[Flexible],[Budget]],\table[[Planning],[Budget]]],[Flights (q),60,60,58],[Revenue ($345.00q),$16,200,$20,700,$20,010],[\table[[Expenses:],[Explovin]]],[Wages and salaries ($3,500+$86.00q),8,628,8,660,8,488],[Fuel ($33.00q),2,144,1,980,1,914],[Airport fees ($820+$34.00q),2,725,2,860,2,792],[Aircraft depreciation ($8.00q),480,480,464],[Office expenses ($200+$1.00q),428,260,258],[Total expenses,14,405,14,240,13,916],[Net operating income,$1,795,$6,460,$6,094]]
The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a discount.
Required:
Prepare a flexible budget performance report for July.
Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.
\table[[Vulcan Flyovers],[Flexible Budget Performance Report],[For the Month Ended July 31],[,Actual Results,,\table[[Flexible],[Budget]],\table[[Planning],[Budget]]],[Flights,60,,60,,58],[Revenue,16,200,,20,700,$,20,010],[Expenses:],[Wages and salaries,8,628,,8,660,,8,488],[Fuel,2,144,,1,980,,1,914],[Airport fees,2,725,,2,860,,2,792],[Aircraft depreciation,480,,480,,464],[Office expenses,428,,260,,258],[Total expenses,14,405,,14,240,,13,916],[Net operating income,1,795,,6,460,$,6,094]]
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