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$)575755$

Revenue $($$$350\mathrm{.}00$q$)$ $ $16,100$ $ $19,950$ $ $19,250$

Expenses:

Wages and salaries $($$$3,100+$ $$89\mathrm{.}00$q$)8,1358,1737,995$

Fuel $($$$34\mathrm{.}00$q$)2,1001,9381,870$

Airport fees $($$$830+$ $$31\mathrm{.}00$q$)2,4572,5972,535$

Aircraft depreciation $($$$11\mathrm{.}00$q$)627627605$

Office expenses $($$$240+$ $$1\mathrm{.}00$q$)465297295$

Total expense $13,78413,63213,300$

Net operating income $ $2,316$ $ $6,318$ $ $5,950$

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.$)$