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 ($345.00q)	$	16,100	$	20,700	$	20,010
Expenses:
Wages and salaries ($3,400 + $87.00q)		8,586		8,620		8,446
Fuel ($31.00q)		2,028		1,860		1,798
Airport fees ($800 + $34.00q)		2,705		2,840		2,772
Aircraft depreciation ($10.00q)		600		600		580
Office expenses ($230 + $1.00q)		458		290		288
Total expense		14,377		14,210		13,884
Net operating income	$	1,723	$	6,490	$	6,126

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 58 Flights 60 60 16,100 $ 20,700 $ 20,010 8,586 2,028 8,620 1,860 8,446 1,798 Revenue Expenses: Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expense Net operating income 2,705 2,772 600 458 14,377 1,723 2,840 600 290 14, 210 6,490 580 288 13,884 6,126 $ $ $