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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

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) 61 61 59
Revenue ($360.00q) $ 16,000 $ 21,960 $ 21,240
Expenses:
Wages and salaries ($3,100 + $88.00q) 8,432 8,468 8,292
Fuel ($33.00q) 2,177 2,013 1,947
Airport fees ($870 + $32.00q) 2,682 2,822 2,758
Aircraft depreciation ($9.00q) 549 549 531
Office expenses ($220 + $1.00q) 449 281 279
Total expense 14,289 14,133 13,807
Net operating income $ 1,711 $ 7,827 $ 7,433

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. Complete the flexible budget performance report abstract for July. (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.)

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