Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the companys operations in July appear below:

Vulcan Flyovers
Operating Data
For the Month Ended July 31
	Actual Results	Flexible Budget	Planning Budget
Flights (q)	57	57	55
Revenue ($355.00q)	$ 16,300	$ 20,235	$ 19,525
Expenses:
Wages and salaries ($3,600 + $91.00q)	8,745	8,787	8,605
Fuel ($31.00q)	1,935	1,767	1,705
Airport fees ($870 + $31.00q)	2,502	2,637	2,575
Aircraft depreciation ($9.00q)	513	513	495
Office expenses ($210 + $1.00q)	435	267	265
Total expenses	14,130	13,971	13,645
Net operating income	$ 2,170	$ 6,264	$ 5,880

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.

\begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{6}{|c|}{ Vulcan Flyovers } \\ \hline \multicolumn{6}{|c|}{ Flexible Budget Performance Report } \\ \hline \multicolumn{6}{|c|}{ For the Month Ended July 31} \\ \hline & Actual Results & & \begin{tabular}{c} Flexible \\ Budget \end{tabular} & & \begin{tabular}{l} ning \\ dget \end{tabular} \\ \hline Flights & 57 & & 57 & & 55 \\ \hline Revenue & 16,300 & & 20,235 & $ & 19,525 \\ \hline \multicolumn{6}{|l|}{ Expenses: } \\ \hline Wages and salaries & 8,745 & & 8,787 & & 8,605 \\ \hline Fuel & 1,935 & & 1,767 & & 1,705 \\ \hline Airport fees & 2,502 & & 2,637 & & 2,575 \\ \hline Aircraft depreciation & 513 & & 513 & & 495 \\ \hline Office expenses & 435 & & 267 & & 265 \\ \hline Total expenses & 14,130 & & 13,971 & & 13,645 \\ \hline Net operating income & 2,170 & & 6,264 & $ & 5,880 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{6}{|c|}{ Vulcan Flyovers } \\ \hline \multicolumn{6}{|c|}{ Flexible Budget Performance Report } \\ \hline \multicolumn{6}{|c|}{ For the Month Ended July 31} \\ \hline & Actual Results & & \begin{tabular}{c} Flexible \\ Budget \end{tabular} & & \begin{tabular}{l} ning \\ dget \end{tabular} \\ \hline Flights & 57 & & 57 & & 55 \\ \hline Revenue & 16,300 & & 20,235 & $ & 19,525 \\ \hline \multicolumn{6}{|l|}{ Expenses: } \\ \hline Wages and salaries & 8,745 & & 8,787 & & 8,605 \\ \hline Fuel & 1,935 & & 1,767 & & 1,705 \\ \hline Airport fees & 2,502 & & 2,637 & & 2,575 \\ \hline Aircraft depreciation & 513 & & 513 & & 495 \\ \hline Office expenses & 435 & & 267 & & 265 \\ \hline Total expenses & 14,130 & & 13,971 & & 13,645 \\ \hline Net operating income & 2,170 & & 6,264 & $ & 5,880 \\ \hline \end{tabular}