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$)595957$

Revenue $($$$355\mathrm{.}00$q$)$ $ $16,200$ $ $20,945$ $ $20,235$

Expenses:

Wages and salaries $($$$3,600+$ $$87\mathrm{.}00$q$)8,6998,7338,559$

Fuel $($$$32\mathrm{.}00$q$)2,0541,8881,824$

Airport fees $($$$870+$ $$34\mathrm{.}00$q$)2,7762,8762,808$

Aircraft depreciation $($$$9\mathrm{.}00$q$)531531513$

Office expenses $($$$250+$ $$1\mathrm{.}00$q$)477309307$

Total expense $14,53714,33714,011$

Net operating income $ $1,663$ $ $6,608$ $ $6,224$

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.$)$