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)		58		58		56
Revenue ($350.00q)	$	16,400	$	20,300	$	19,600
Expenses:
Wages and salaries ($3,100 + $86.00q)		8,056		8,088		7,916
Fuel ($34.00q)		2,134		1,972		1,904
Airport fees ($860 + $34.00q)		2,687		2,832		2,764
Aircraft depreciation ($8.00q)		464		464		448
Office expenses ($240 + $1.00q)		466		298		296
Total expense		13,807		13,654		13,328
Net operating income	$	2,593	$	6,646	$	6,272

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 58 Actual Results Planning Budget 56 Flights 58 Revenue $ 16,400 $ 20,300 $ 19,600 7,916 8,056 2,134 2,687 8,088 1,972 1,904 2,764 Expenses: Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expense Net operating income 2,832 464 464 448 466 298 296 13,328 13,807 2,593 13,654 6,646 $ $ $ $ 6,272