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 ($345.00q)	$ 16,000	$ 18,975	$ 18,285
Expenses
Wages and salaries ($3,300+$85.00q)	7,945	7,975	7,805
Fuel ($32.00q)	1,926	1,760	1,696
Airport fees ($800 + $33.00q)	2,470	2,615	2,549
Aircraft depreciation ($11.00q)	605	605	583
Office expenses ($240 + $1.00q)	463	295	293
Total expense:	13,409	13,250	12,926
Net operating income:	$ 2,591	$ 5,725	$ 5,359

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.)