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: Flexible Budget 59 $20,650 Planning Budget 57 $19.950 Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Results Flights (9) 59 Revenue ($350.000) $16,300 Expenses: Wages and salaries ($3,800 + $89.000) 9,013 Fuel ($33.00) 2.111 Airport fees ($830 + $34.000) 2,721 Aircraft depreciation ($9.00) 531 Office expenses ($200 + $1.009) 427 Total expense 14,803 Net operating income $ 1,497 9,051 1,947 2,836 531 259 14,624 $ 6,026 8,873 1,881 2,768 513 257 14,292 $ 5,658 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 eport 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