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)		56		56		54
Revenue ($350.00q)	$	16,200	$	19,600	$	18,900
Expenses:
Wages and salaries ($3,500 + $91.00q)		8,554		8,596		8,414
Fuel ($32.00q)		1,958		1,792		1,728
Airport fees ($810 + $33.00q)		2,513		2,658		2,592
Aircraft depreciation ($8.00q)		448		448		432
Office expenses ($230 + $1.00q)		454		286		284
Total expense		13,927		13,780		13,450
Net operating income	$	2,273	$	5,820	$	5,450

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.)

Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 56 Actual Results Planning Budget Flights 56 54 $ 16,200 $ 19,600 $ 18,900 8,414 Revenue Expenses: Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expense Net operating income 8,554 1,958 2,513 8,596 1,792 1,728 2,592 2,658 448 448 432 454 286 284 13,927 13,780 13,450 5,450 $ 2,273 $ 5,820 $