Can someone please show me out to do this problem while showing your work.

+ 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 d Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Flexible Planning Results Budget Badget Flights 48 so Revenge (5320.000) $13,650 $15.160 $15.000 8.430 7,916 8.100 1.260 1104 1.150 Expenses Wapes and salaries ($4,000 $82,009) Fuel ($23.000) Airport fees ($650 - $38.00) Aircraft depreciation $7.001) Office expenses ($190 $2.000) Total expense 2.350 2.474 2,550 336 336 350 460 28.5 -290 12836 12,136 12.400 Net operating income $ 214 $ 2.224 $ 3.560 The company measures its activity in terms of flights Customers can buy individual tickets for overflights of hire an entire plane for an overflight at a discount. Required: 1. Using Exhibit 9-8 as your guide, prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances 2. Which of the variances should be of concern to management? Explain