Exercise $9-4($Algo$)$ Prepare a Flexible Budget Performance Report $[$LO$9-4]$

Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below:

The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a discount.

Required:

Prepare a flexible budget performance report for July.

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.

$\backslash$table$[[$Vulcan Flyovers$],[$Flexible Budget Performance Report$],[$For the Month Ended July $31],[,\backslash$table$[[$Actual$],[$Results$]],,\backslash$table$[[$Flexible$],[$Budget$]],\backslash$table$[[$Planning$],[$Budget$]]],[$Flights$,,57,,57,,55],[$Revenue$,$$$,16,000,19,380,19,380,$$$,18,700],[$Expenses:$],[$Wages and salaries,,$8,445,8,487,8,487,,8,305],[$Fuel$,,1,990,1,824,1,824,,1,760],[$Airport fees,,$2,643,2,748,2,748,,2,680],[$Aircraft depreciation,,$570,570,570,,550],[$Office expenses,,$455,,287,,285],[$Total expenses,,$14,103,,13,916,,13,580],[$Net operating income,$$,1,897,,5,464,$$$,5,120]]$