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)		60		60		58
Revenue ($355.00q)	$	16,400	$	21,300	$	20,590
Expenses:
Wages and salaries ($3,400 + $85.00q)		8,470		8,500		8,330
Fuel ($32.00q)		2,086		1,920		1,856
Airport fees ($870 + $32.00q)		2,670		2,790		2,726
Aircraft depreciation ($11.00q)		660		660		638
Office expenses ($230 + $1.00q)		458		290		288
Total expense		14,344		14,160		13,838
Net operating income	$	2,056	$	7,140	$	6,752

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 60 Planning Budget 58 Flights 60 $ 16,400 ru S 21,300 F S 20,590 F fu U u Revenue Expenses Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expense Net operating income 8,470 2,086 2.670 680 458 14344 2,056 None ru ru 8,500 1,920 2,790 680 290 14,160 7,140 U tu 8,330 1.856 2.726 638 288 13,838 8.752 U $ $ $