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 Flights (9) Revenue ($350.00q) Results 59 $16,000 $20,650 Flexible Budget 59 Planning Budget 57 $19,950 Expenses: Wages and salaries ($3,400 + $87.00q) 8,499 8,533 8,359 Fuel ($34.00q) 2,168 2,006 1,938 Airport fees ($830 + $34.00q) 2,701 2,838 2,768 Aircraft depreciation ($10.00q) 590 590 570 Office expenses ($210 + $1.00g) 437 269 287 Total expense 14,395 14,234 13,902 Net operating income $ 1,605 $ 6,416 $ 6,048 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. 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 variance). 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