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 (g) 58 58 56 Revenue ($360.00q) $16,500 20,880 $ 20,160 Expenses: Wages and salaries ($3,500+ $89.00g) 8,624 8,662 8,484 Fuel ($33.00g) 2,078 1,914 1,848 Airport fees ($810 + $31.00q) 2,468 2,608 2,546Aircraft depreciation 9.00q) 522 522 504 Office expenses ($230 + $1.00g) 456 288 286Total expense 14,148 13,994 13,668Net operating income $2,352 $6,886 $6,492The 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: 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.)