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 ($350.00q)	$	16,100	$	21,000	$	20,300
Expenses:
Wages and salaries ($3,400 + $90.00q)		8,760		8,800		8,620
Fuel ($33.00q)		2,144		1,980		1,914
Airport fees ($830 + $32.00q)		2,640		2,750		2,686
Aircraft depreciation ($9.00q)		540		540		522
Office expenses ($250 + $1.00q)		478		310		308
Total expense		14,562		14,380		14,050
Net operating income	$	1,538	$	6,620	$	6,250

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 (.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 58 Flights 60 60 Revenue $ 16,100 $ 21,000 $ 20,300 Expenses: Wages and salaries Fuel 8,760 8,800 8,620 2.144 1,980 1,914 2,640 2,750 2,686 540 540 522 Airport fees Aircraft depreciation Office expenses Total expense Net operating income 478 310 308 14,050 14,562 1,538 14,380 6,620 $ $ $ 6,250