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 Nonth Ended July 31 Actual Flexible Planning Results Budget Budget 57 Flights (g) 59 59 $16,400 20,060 s 19,380 Revenue ($340.00g) Expenses t Wages and salaries ($3,500 $88.00g) Puel ($31.00g) Airport fees ($810 $34.00g) Aircraft depreciation (s11.00g) office expenses ($240$1.00g) 8,656 8,6928,516 1,9978291 767 2,6712,8162 748 627 297 14.440 14.285 13.955 $ 1,960 $ 5,775 5.425 649 467 649 299 Total expense Net operating income The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane for an 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.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Plannin