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)	62	62	60
Revenue ($350.00q)	$ 16,400	$ 21,700	$ 21,000
Expenses:
Wages and salaries ($3,600 + $85.00q)	8,840	8,870	8,700
Fuel ($32.00q)	2,150	1,984	1,920
Airport fees ($840 + $32.00q)	2,684	2,824	2,760
Aircraft depreciation ($10.00q)	620	620	600
Office expenses ($230 + $1.00q)	460	292	290
Total expense	14,754	14,590	14,270
Net operating income	$ 1,646	$ 7,110	$ 6,730

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.

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: 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. Note: 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