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)		55		55		53
Revenue ($340.00q)	$	16,400	$	18,700	$	18,020
Expenses:
Wages and salaries ($3,000 + $85.00q)		7,645		7,675		7,505
Fuel ($31.00q)		1,873		1,705		1,643
Airport fees ($810 + $33.00q)		2,495		2,625		2,559
Aircraft depreciation ($9.00q)		495		495		477
Office expenses ($230 + $1.00q)		453		285		283
Total expense		12,961		12,785		12,467
Net operating income	$	3,439	$	5,915	$	5,553

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 Actual Results Planning Budget 53 Flights 55 55 Revenue $ 16,400 18,700 $ 18,020 Expenses: Wages and salaries 7,505 1,643 Fuel 7,675 1,705 2,625 495 2,559 7,645 1,873 2,495 495 453 12,961 3,439 Airport fees Aircraft depreciation Office expenses Total expense 285 477 283 12,467 5,553 12,785 Net operating income $ 5,915 $