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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 company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Flexible Planning Results Budget Budget 59 Flights (q) Revenue ($350.00q) 59 $16,400 $20,650 $ 19,950 Expenses Fuel ($33.00q) Airport fees ($880$34.00q) Wages and salaries ($3,500$91.00q) 8,827 8,869 8,687 1,881 2,818 2,111 2,7662,886 1,947 Aircraft depreciation ($9.00q) Office expenses ($200+$1.00q) 531 427 531 259 513 257 14,662 14,492 14,156 $ 1,738 $ 6,158 S 5,794 Total expense Net operating income 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.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Revenue and Spending Variances Activity Variances Revenue Expenses Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expense Net operating income

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