Vulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Washington State that explosively erupted in 1982. Data concerning the company's operations in July appear below Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Flexible Planning Results Budget Budget 53 Flights (q) Revenue ($355.00g) Expenses: $16.200 $ 19,525 $ 18,815 8198 80 058 Wages and salaries ($3,500+$86.00q) Fuel ($32.00q) Airport fees ($860+$32.00q) Aircraft depreciation ($8.00q) Office expenses ($200+$1.00g) 1,926 1,760 1,696 2,520 2,620 2,556 424 423 255 253 440 440 Total expense 13,507 13,305 12,987 Net operating income s 2,693 $ 6,220 5,828 The company measures its activity in terms of flights hire an entire plane for an overflight at a discount Customers can buy individual tickets for 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 v Input all amounts as positive values.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Revenue and Spending Variances Activity Variances Revenue Expenses: Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expense Net operating income