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Tiplop Flight School offers fying lessons at a small municipal airport. The school's owner and...

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Accounting

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Tiplop Flight School offers fying lessons at a small municipal airport. The school's owner and manager has been attempting to evaluate performance and control costs using a variance report that compares the planning budget to actual results. A recent variance report appears below: Atter several months of using these reports, the owner has become frustrated For example, she is quite confident that instructor wages were very tightly controlled in July, but the report shows an unfavorable varlance. The planning budget was developed using the following formulas, where q 15 the nurnber of lessons sold: Required: 2. Complete the flexble budget performance report for the school for July. (indicate the effect of each varinnce by selecting "F' for fnvorable, "U" for unfovorable, and "None" for no effect (l.e., zere variance), Input all amounts as positive values)

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