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)	54	54	52
Revenue ($355.00q)	$ 16,200	$ 19,170	$ 18,460
Expenses:
Wages and salaries ($3,300 + $90.00q)	8,120	8,160	7,980
Fuel ($33.00q)	1,946	1,782	1,716
Airport fees ($890 + $35.00q)	2,645	2,780	2,710
Aircraft depreciation ($10.00q)	540	540	520
Office expenses ($220 + $1.00q)	442	274	272
Total expense	13,693	13,536	13,198
Net operating income	$ 2,507	$ 5,634	$ 5,262

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.)

Flights Revenue Expenses: Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expense Net operating income Actual Results 54 $ 16,200 8,120 1,946 2,645 540 442 13,693 2,507 $ Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget $ $ 54 19,170 8,160 1,782 2,780 540 274 13,536 5,634 $ $ EA Planning Budget 52 18,460 7,980 1,716 2,710 520 272 13,198 5,262