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)	59	59	57
Revenue ($350.00q)	$ 16,000	$ 20,650	$ 19,950
Expenses:
Wages and salaries ($3,600 + $92.00q)	8,984	9,028	8,844
Fuel ($34.00q)	2,168	2,006	1,938
Airport fees ($800 + $34.00q)	2,676	2,806	2,738
Aircraft depreciation ($10.00q)	590	590	570
Office expenses ($200 + $1.00q)	427	259	257
Total expense	14,845	14,689	14,347
Net operating income	$ 1,155	$ 5,961	$ 5,603

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.)

Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 59 20,650 Actual Results 59 $ 16,000 Planning Budget 57 $ 19,950 $ 8,984 9,028 2,006 Flights Revenue Expenses: Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expense Net operating income 2,168 2,676 8,844 1,938 2.738 2,806 590 570 427 257 590 259 14,689 5,961 14.845 1.155 14,347 5,603 $ $ $ $ $