Vulcan Flyovers offers scenic overflights of Mount St. 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)		58		58		56
Revenue ($350.00q)	$	16,500	$	20,300	$	19,600
Expenses:
Wages and salaries ($3,100 + $88.00q)		8,168		8,204		8,028
Fuel ($32.00q)		2,022		1,856		1,792
Airport fees ($880 + $35.00q)		2,790		2,910		2,840
Aircraft depreciation ($9.00q)		522		522		504
Office expenses ($220 + $1.00q)		446		278		276
Total expense		13,948		13,770		13,440
Net operating income	$	2,552	$	6,530	$	6,160

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.

Complete the flexible budget performance report abstract for July. (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
	Revenue and Spending Variances		Activity Variances
Revenue
Expenses:
Wages and salaries
Fuel
Airport fees
Aircraft depreciation
Office expenses
Total expense
Net operating income