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)	57	57	55
Revenue ($345.00q)	$ 16,100	$ 19,665	$ 18,975
Expenses:
Wages and salaries ($3,500 + $90.00q)	8,590	8,630	8,450
Fuel ($33.00q)	2,045	1,881	1,815
Airport fees ($860 + $32.00q)	2,574	2,684	2,620
Aircraft depreciation ($9.00q)	513	513	495
Office expenses ($220 + $1.00q)	445	277	275
Total expense	14,167	13,985	13,655
Net operating income	$ 1,933	$ 5,680	$ 5,320

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
	Actual Results	Revenue and Spending Variances		Flexible Budget	Activity Variances		Planning Budget
Flights	57			57			55
Revenue	$16,100			$19,665			$18,975
Expenses:
Wages and salaries	8,590			8,630			8,450
Fuel	2,045			1,881			1,815
Airport fees	2,574			2,684			2,620
Aircraft depreciation	513			513			495
Office expenses	445			277			275
Total expense	14,167			13,985			13,655
Net operating income	$1,933			$5,680			$5,320