Homework 4. Exercise 9-4 (Algo) Prepare a Flexible Budget Performance Report [LO9-4] Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State that explosively erupted in 1982. Data conceming the company's operations in July appear below: Vulcan Flyovers Operating Data Book Flights (9) Revenue ($350.00g) Hint For the Honth Ended July 31 Actual Results Flexible Budget Planning Budget 57 57 55 $ 16,300 $ 19,950 5 19,250 8,635 8,673 1,935 1,767 1,705 2,477 2.577 2,515 513 513 495 465 297 295 14,025 $ 2,275 13,827 $6,123 13.505 $5,745 Print 0 rences Expenses: wages and salaries ($3,600 +$00.000) Fuel ($31.00g) Airport fees (5810+ $31.000) Aircraft depreciation ($9.000) Total expense office expenses ($240 +$1.000) Net operating income 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. (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.) Vulcan Flyovers