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)	59	59	57
Revenue ($360.00q)	$ 16,400	$ 21,240	$ 20,520
Expenses:
Wages and salaries ($3,300 + $86.00q)	8,342	8,374	8,202
Fuel ($33.00q)	2,111	1,947	1,881
Airport fees ($840 + $30.00q)	2,480	2,610	2,550
Aircraft depreciation ($9.00q)	531	531	513
Office expenses ($210 + $1.00q)	437	269	267
Total expense	13,901	13,731	13,413
Net operating income	$ 2,499	$ 7,509	$ 7,107

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