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)	$	16,400	$	20,700	$	20,010
Expenses:
Wages and salaries ($3,500 + $90.00q)		8,860		8,900		8,720
Fuel ($30.00q)		1,970		1,800		1,740
Airport fees ($800 + $34.00q)		2,700		2,840		2,772
Aircraft depreciation ($9.00q)		540		540		522
Office expenses ($230 + $1.00q)		458		290		288
Total expense		14,528		14,370		14,042
Net operating income	$	1,872	$	6,330	$	5,968
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.) (Below is the photo of question required)

Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Planning Budget Actual Results Flights 60 60 58 Revenue 16,400 $20,700 20,010 Expenses Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses 8,860 1,970 2,700 540 458 14,528 1,872 8,900 1,800 2,840 540 290 14,370 6,330 8,720 1,740 2,772 522 288 14,042 5,968 Total expense Net operating income