Exercise $9-4($Algo$)$ Prepare a Flexible Budget Performance Report $[$L$09-4]$

Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State that explosively erupted in $1982.$ 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 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.$)$