Vulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Washington State that explosively erupted in 1982. Data concering the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Flexible Planning Results Budget Budget 59 59 57 Flipts() 5 16.100 1.10.355 $ 19,665 Revenue (5345.000 Expenses: Wages and salaries (53,500 + $91.60) Fuel (530.00) Airport fees (5850 532.00) Aircraft depreciation ($11.004) office expenses (525 $1.000) Total Tietoperating income 3,569 1.90 1,70 1,710 2.628 2,730 649 627 307 14,931 $ 1.779 $6.020 $ 5.660 The company measures its activity in terms of fights Customers can buy individual tickets for overflights or hire an entire plane for an overflight discount Required 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 effectie, zero variance Input all amounts as positive values) File Budget Performance Report For the Moth Ende July 31 Actual Results 59 Budget 59 Budget 57 16.300 5 20.355 5 15 Type here to search o DELL F2 F3 F4 FS F6 F7 F8 F9 F10 A 2 3 % 5 * 4 6 & 7 8 Q W E R. T Y 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 (ie, zero variance). Input all amounts as positive values.) Wulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Actual Results Flights Planning Budget 59 59 57 Revenue 5 16.300 S 20.355 $ 19.665 8822 Wages and sales Foel peries 3069 1940 2020 8,687 1.710 2674 627 1770 2.738 649 309 5451 477 14521 27 5 6,020 5 14005 5.660 Type here to search Prey 4 of 7 Nead > o DELL F1 F3 F4 F5 F6 F7 FB F9 F1 $ a 2 #m % A 4 5 * 6 & 7 8 W E R T