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)		60		60		58
Revenue ($345.00q)	$	16,200	$	20,700	$	20,010
Expenses:
Wages and salaries ($3,400 + $88.00q)		8,644		8,680		8,504
Fuel ($31.00q)		2,028		1,860		1,798
Airport fees ($810 + $31.00q)		2,520		2,670		2,608
Aircraft depreciation ($9.00q)		540		540		522
Office expenses ($240 + $1.00q)		468		300		298
Total expense		14,200		14,050		13,730
Net operating income	$	2,000	$	6,650	$	6,280

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 Budget Actual Results Planning Budget 58 Flights 60 60 Revenue $ 16,200 $ 20,700 $ 20,010 Expenses: Wages and salaries 8,644 8,680 8,504 Fuel 2,028 1,860 1,798 2,520 2,670 2,608 Airport fees Aircraft depreciation 540 540 522 Office expenses 468 300 298 Total expense 14,200 13,730 14,050 6,650 Net operating income $ 2,000 $ $ 6,280