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 Month Ended July 31 Actual Flexible Planning Results Budget Budget Flights (q) 57 57 $ 16,30e $ 19,95e 19,258 Revenue (s3se.eeq) Expenses Nages and salaries ($3,480+$87.8q) Fuel ($34.88q) Airport fees ($858+$31.88q) Aircraft depreciation ($18.884) Office expenses (s28 S1.88q) 8,325 8,359 8,185s 2,180 1,938 1,870 2,487 2,6172,555 558 57e 2,617 570 257 425 13,907 13.741 13,415 Total expense Net operating incone $ 2,393 $ 6,209 5,835 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire piane 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 (0.., zero varlance). Input all amounts es posltive values) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Planning Actual Results Flights 57 57 S 16,300 S 10.950 S 19.250 Wages and salaries Fuel Airport fees Airoraft depreciation Office expenses 8,325 2,100 2,487 570 8.350 1.938 2,017 570 257 13,741 6.200 8185 1,870 2555 550 255 13,415 5,835 Total expense 13,007 2,303 Net operating income