Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State that explosively erupted in $1982.$ Data concerning the company$$s operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July $31$ Actual Results Flexible Budget Planning Budget Flights $($q$)535351$ Revenue $($$$345\mathrm{.}00$q$)$ $ $16,100$ $ $18,285$ $ $17,595$ Expenses: Wages and salaries $($$$3,700+$ $$89\mathrm{.}00$q$)8,3798,4178,239$ Fuel $($$$30\mathrm{.}00$q$)1,7601,5901,530$ Airport fees $($$$820+$ $$31\mathrm{.}00$q$)2,3432,4632,401$ Aircraft depreciation $($$$9\mathrm{.}00$q$)477477459$ Office expenses $($$$220+$ $$1\mathrm{.}00$q$)441273271$ Total expense $13,40013,22012,900$ Net operating income $ $2,700$ $ $5,065$ $ $4,695$ 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.