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:

Vulcan Flyovers

Operating Data

For the Month Ended July $31$

Actual Results Flexible Budget Planning Budget

Flights $($q$)555553$

Revenue $($$$340\mathrm{.}00$q$)$ $ $16,100$ $ $18,700$ $ $18,020$

Expenses:

Wages and salaries $($$$3,600+$ $$86\mathrm{.}00$q$)8,2988,3308,158$

Fuel $($$$34\mathrm{.}00$q$)2,0321,8701,802$

Airport fees $($$$880+$ $$31\mathrm{.}00$q$)2,4602,5852,523$

Aircraft depreciation $($$$9\mathrm{.}00$q$)495495477$

Office expenses $($$$240+$ $$1\mathrm{.}00$q$)463295293$

Total expense $13,74813,57513,253$

Net operating income $ $2,352$ $ $5,125$ $ $4,767$

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 $($i$.$e$.,$ zero variance$).$ Input all amounts as positive values.$)$