Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State that explosively erupted in 1982. Data concerning the companys operations in July appear below:

Vulcan Flyovers
Operating Data
For the Month Ended July 31
	Actual Results	Flexible Budget	Planning Budget
Flights (q)	58	58	56
Revenue ($345.00q)	$ 16,000	$ 20,010	$ 19,320
Expenses:
Wages and salaries ($3,800 + $90.00q)	8,980	9,020	8,840
Fuel ($33.00q)	2,078	1,914	1,848
Airport fees ($820 + $34.00q)	2,657	2,792	2,724
Aircraft depreciation ($10.00q)	580	580	560
Office expenses ($240 + $1.00q)	466	298	296
Total expense	14,761	14,604	14,268
Net operating income	$ 1,239	$ 5,406	$ 5,052

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.)