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 Vulcan Flyovers Operating Data For the Month Ended July 31 Actual FlexiblePlanning Results Budget Budget 54 Flights (g) 56 56 Revenue ($340.00g) Expenses: $16 400 $19,040 $18,360 Puel ($33.00g) Airport fees ($880+ $35.00q) Aircraft depreciation ($11.00g) Office expenses ($230$1.00g) Wages and salaries ($3,600$86.00g) 8,384 8,416 8,244 2.012 1,848 1,782 2,710 2,840 2,770 594 284 14.176 14,006 13,674 616 454 616 286 Total expense Net operating income s 2,224 5,034 $ 4,686 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: 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.) 1. int View hipul Eno mhedacation.com/tm.tprtodone15SinglePrint View&singleQ Vulcan Flyovers Flexible Budget Pertormance Report For the Month Ended July 31 Actual Resuks Fights s6 se 54 S16,400 19.040 S18,360 Wages and salaries Fuel Airport fees 8.384 2.012 2,710 016 454 14,170 2224 8,416 1,848 2 840 616 8244 1,782 2,770 Ofice expenses Total expense Net operating income 4.006 13,674 836 5.034