Vulcan Flyovers offers scenic overflights of Mount Saint Helens the volcano in Washington State that explosively erupted in 1992 Data concerning the company's operations in July appear below. Vulcan Flyover For the Month Ended July an Operating Data Actual Results 55 16.00 Flexible Budget 55 10250 Planning Budget $ 10,550 3, 705 1.70 8.52 1.802 Flights Revenue 350.000 Expenses Wages and salaries (33,700 91.00 Puel (534.000 Airport fees (30.533.000) Alreraft depreciation ($11.000) office expenses 1325091.000) Total expense Net operating income 2.032 2.535 05 605 305 14.110 55. 120 58 303 15.0 102308 2.092 The company measures its activity in terms of lights. Customers can buy individual tickets for overflights are an entire place for an overflight at a discount Required: 1. Prepare a flexible budget performance report for July that includes revenue and spending vanances and activity variances (Indicate the effect of each variance by selecting "F* for favorable, "U" for unfavorable, and "None for no effectie zero variance) input all amounts as positive values.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Enant Flowe Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State that explosively erupted in 1982. Data concerning the company's operations in July appear below: 24 Flexible Budget 55 $ 19.250 Planning Budget 53 $ 18.550 Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Results Flights (9) 55 Revenue ($350.000) $ 16,400 Expenses: Wages and salaries ($3,700 + $91.004) 8,663 Fuel ($34.009) 2,032 Airport fees ($830 + $33.009) 2,535 Aircraft depreciation ($11.004) 605 office expenses ($250 + $1.009) 473 Total expense 14,308 Net operating income $ 2,092 8,523 1,802 2.579 8,705 1,070 2,645 605 305 14,130 $ 5,120 583 303 13,790 $ 4,760 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. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (le, zero variance). Input all amounts as positive values.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Rovania and nandinn Flavilla Dianninn