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 58 $20,880 Planning Budget 56 $20,160 Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Results Flights (9) 58 Revenue ($360.00q) $16,300 Expenses: Wages and salaries ($3,200 + $86.00q) 8,156 Fuel ($33.00q) 2,078 Airport fees ($890 + $34.009) 2,757 Aircraft depreciation ($8.00q) 464 Office expenses ($210 + $1.009) 436 Total expense 13,891 Net operating income $ 2,409 8,188 1,914 2,862 464 268 13,696 $ 7,184 8,016 1,848 2,794 448 266 13,372 $ 6,788 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