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: Flights (q) Revenue ($355.00g) Expenses: Vulcan Flyovers Operating Data For the Month Ended July 31 Mages and salaries ($3,600 +$88.00q) Fuel ($32.00g) Airport fees ($870 +$32.00g) Aircraft depreciation ($10.00g) office expenses ($250 +$1.00g) Total expense Net operating income Actual Flexible Planning Results Budget Budget 55 55 53 $16,000 $19,525 $18,815 8,404 8,440 8,264 1,926 1,760 1,696 2,490 2,630 2,566 550 473 550 305 530 303 13,843 13,685 13,359 $ 2,157 $ 5,840 $ 5,456 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. Planning