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)		59		59		57
Revenue ($340.00q)	$	16,400	$	20,060	$	19,380
Expenses:
Wages and salaries ($3,600 + $85.00q)		8,585		8,615		8,445
Fuel ($31.00q)		1,997		1,829		1,767
Airport fees ($880 + $33.00q)		2,697		2,827		2,761
Aircraft depreciation ($10.00q)		590		590		570
Office expenses ($210 + $1.00q)		437		269		267
Total expense		14,306		14,130		13,810
Net operating income	$	2,094	$	5,930	$	5,570

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 57 Flights 59 59 Revenue $ 16,400 $ 20,060 $ 19,380 Expenses: Wages and salaries Fuel 8,585 1,997 2,697 8,445 1,767 2,761 570 Airport fees 590 8,615 1,829 2,827 590 269 14,130 5,930 437 Aircraft depreciation Office expenses Total expense Net operating income 267 14,306 2,094 13,810 5,570 $ $ $