Vulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Washington State that explosively erupted in 1982. Data concerning the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Flexible Planning Results Budget Budget Flights () Revenue ($355.00 q) 58 16,500 20,59019,880 58 56 Expenses Wages and salaries ($3,7008768 Fuel ($31.00g) Airport fees ($880 + $30.00q) 2,485 Aircraft depreciation ($9.00g) 8,804 8,628 $88.00) 1,966 1,7981,736 2,620 2,560 522 298 504 296 522 466 Office expenses ($240+$1.00 4,207 14,042 13,724 Total expense 2,293 s 6,548$ 6,156 Net operating income 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. 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