Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State that explosively erupted in 1982. 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)	62	62	60
Revenue ($360.00q)	$ 16,100	$ 22,320	$ 21,600
Expenses:
Wages and salaries ($3,700 + $90.00q)	9,240	9,280	9,100
Fuel ($32.00q)	2,150	1,984	1,920
Airport fees ($860 + $32.00q)	2,709	2,844	2,780
Aircraft depreciation ($10.00q)	620	620	600
Office expenses ($210 + $1.00q)	440	272	270
Total expense	15,159	15,000	14,670
Net operating income	$ 941	$ 7,320	$ 6,930

The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane for an overflight at a discount.

Required:

1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances.

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.