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$)595957$

Revenue $($$$350\mathrm{.}00$q$)$ $ $16,200$ $ $20,650$ $ $19,950$

Expenses:

Wages and salaries $($$$3,100+$ $$89\mathrm{.}00$q$)8,3138,3518,173$

Fuel $($$$34\mathrm{.}00$q$)2,1682,0061,938$

Airport fees $($$$800+$ $$34\mathrm{.}00$q$)2,6912,8062,738$

Aircraft depreciation $($$$10\mathrm{.}00$q$)590590570$

Office expenses $($$$240+$ $$1\mathrm{.}00$q$)467299297$

Total expenses $14,22914,05213,716$

Net operating income $ $1,971$ $ $6,598$ $ $6,234$

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.