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)	56	56	54
Revenue ($355.00q)	$ 16,400	$ 19,880	$ 19,170
Expenses:
Wages and salaries ($3,000 + $89.00q)	7,946	7,984	7,806
Fuel ($30.00q)	1,850	1,680	1,620
Airport fees ($810 + $30.00q)	2,360	2,490	2,430
Aircraft depreciation ($9.00q)	504	504	486
Office expenses ($220 + $1.00q)	444	276	274
Total expense	13,104	12,934	12,616
Net operating income	$ 3,296	$ 6,946	$ 6,554

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.)