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)		57		57		55
Revenue ($345.00q)	$	16,400	$	19,665	$	18,975
Expenses:
Wages and salaries ($3,300 + $91.00q)		8,445		8,487		8,305
Fuel ($33.00q)		2,045		1,881		1,815
Airport fees ($860 + $34.00q)		2,648		2,798		2,730
Aircraft depreciation ($9.00q)		513		513		495
Office expenses ($250 + $1.00q)		475		307		305
Total expense		14,126		13,986		13,650
Net operating income	$	2,274	$	5,679	$	5,325

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.)

Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Actual Results Planning Budget 55 Flights 57 57 Revenue 18,400 s 19,665 S 18,975 Expenses: 8,445 8,487 8,305 Wages and salaries Fuel 2,045 1.881 1,815 Airport fees 2,648 2,798 2,730 Aircraft depreciation 513 513 495 475 307 305 Office expenses Total expense 14,126 13.986 13,650 Net operating income $ 2.274 s 5.679 S 5,325