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)		62		62		60
Revenue ($360.00q)	$	16,500	$	22,320	$	21,600
Expenses:
Wages and salaries ($3,000 + $86.00q)		8,300		8,332		8,160
Fuel ($33.00q)		2,210		2,046		1,980
Airport fees ($890 + $35.00q)		2,910		3,060		2,990
Aircraft depreciation ($11.00q)		682		682		660
Office expenses ($200 + $1.00q)		430		262		260
Total expense		14,532		14,382		14,050
Net operating income	$	1,968	$	7,938	$	7,550

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.)

X Answer is not complete. Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 62 Actual Results Planning Budget 60 Flights 62 Revenue $ 16,500 $ (5,820) U $ 22,320 $ 720 F $ 21,600 Expenses: Wages and salaries 8,300 (32) XF 8,332 172 U 8,160 VO Fuel 2,210 164 2,046 66 U 1,980 2,910 (150) F 3,060 70 U 2,990 682 None 682 22 U 660 Airport fees Aircraft depreciation Office expenses Total expense Net operating income 430 168 U 262 260 | 14,532 150 || 14,382 332 14,050 $ 1,968 $ (5,970)x7U $ 7,938 $ 388 F $ 7,550