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)		55		55		53
Revenue ($350.00q)	$	16,200	$	19,250	$	18,550
Expenses:
Wages and salaries ($3,600 + $91.00q)		8,563		8,605		8,423
Fuel ($31.00q)		1,873		1,705		1,643
Airport fees ($850 + $31.00q)		2,410		2,555		2,493
Aircraft depreciation ($9.00q)		495		495		477
Office expenses ($220 + $1.00q)		443		275		273
Total expense		13,784		13,635		13,309
Net operating income	$	2,416	$	5,615	$	5,241

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.)