Vulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Washington State that explosively erupted in 1982. Data concerning the compan's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Flexible Planning Results Budget Budget 58 S16.100 S20,700 S20.010 60 60 Flights (g) Revenue ($345.000) Expenses: Wages and salaries (S3,300+$89.00q) Fuel ($30.00q) Airport fees ($870+S35.00g) Aircraft depreciation ($11.00q) Office expenses ($220 $1.00q) 8,602 1,970 2,825 660 448 14,505 8,640 1,800 2,970 660 280 14,350 8,462 1,740 2,900 638 278 Total expense Net operating income S 1,595 S 6,350 S 5,992 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane for an overfight 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 Variances Revenue Expenses: Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expense Net operating income