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)		61		61		59
Revenue ($340.00q)	$	16,300	$	20,740	$	20,060
Expenses:
Wages and salaries ($3,500 + $86.00q)		8,714		8,746		8,574
Fuel ($31.00q)		2,059		1,891		1,829
Airport fees ($840 + $32.00q)		2,672		2,792		2,728
Aircraft depreciation ($11.00q)		671		671		649
Office expenses ($230 + $1.00q)		459		291		289
Total expense		14,575		14,391		14,069
Net operating income	$	1,725	$	6,349	$	5,991

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.)