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 Flights (q) Revenue ($320.00q) Expenses: Wages and salaries ($4,000 + $82.009) Fuel ($23.00q) Airport fees ($650 + $38.00q) Aircraft depreciation ($7.00g) Office expenses ($190 + $2.00q) Total expenses Net operating income Actual Results 48 $ 13,650 8,430 1,260 2,350 336 460 12,836 $814 Flexible Planning Budget Budget 50 $ 16,000 6 48 $ 15,360 7,936 1,104 2,474 336 286 12, 136 $ 3,224 8,100 1,150 2,550 350 290 12,440 $ 3,560 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.

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: 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