Vulcan Flyovers offers scenic overflights of Mount Saint 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 ($355.00q)	$ 16,100	$ 21,655	$ 20,945
Expenses:
Wages and salaries ($3,700 + $90.00q)	9,150	9,190	9,010
Fuel ($34.00q)	2,236	2,074	2,006
Airport fees ($840 + $30.00q)	2,540	2,670	2,610
Aircraft depreciation ($9.00q)	549	549	531
Office expenses ($210 + $1.00q)	439	271	269
Total expense	14,914	14,754	14,426
Net operating income	$ 1,186	$ 6,901	$ 6,519

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.

Note: 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.