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for Julu that includor reveDue and spending variances and activity variances. (Indicate

for Julu that includor reveDue and spending variances and activity variances. (Indicate

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Saved Help Save & Exr ers 8-12 & 14 Recap A Check 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: Vulcan Flyovers Operating Data For the Month Ended July 31 ts Actual Flexible Planning Results Budget Budget eBook 60 60 58 Flights (q) $ 16,500 $ 20,700 $ 20,010 Hint Revenue ($345.00g) Expenses: Wages and salaries ($3,300 + $88.00g) Fuel ($33.00q) Airport fees ($820 + $32.00g) Aircraft depreciation ($9.00g) Office expenses ($240 + $1.00g) Total expense 8,544 2,144 2,590 8,580 1,980 2,740 540 8,404 1,914 2,676 Print References 540 522 468 300 298 14,286 $ 2,214 $ 6,560 $ 6,196 14,140 13,814 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 "E" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Mc Graw Hill Education < Prey 6 of 15 Next > 126 16 8. S G B M 3 cmd
Transcribed Image Text:Saved Help Save & Exr ers 8-12 & 14 Recap A Check 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: Vulcan Flyovers Operating Data For the Month Ended July 31 ts Actual Flexible Planning Results Budget Budget eBook 60 60 58 Flights (q) $ 16,500 $ 20,700 $ 20,010 Hint Revenue ($345.00g) Expenses: Wages and salaries ($3,300 + $88.00g) Fuel ($33.00q) Airport fees ($820 + $32.00g) Aircraft depreciation ($9.00g) Office expenses ($240 + $1.00g) Total expense 8,544 2,144 2,590 8,580 1,980 2,740 540 8,404 1,914 2,676 Print References 540 522 468 300 298 14,286 $ 2,214 $ 6,560 $ 6,196 14,140 13,814 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 "E" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Mc Graw Hill Education < Prey 6 of 15 Next > 126 16 8. S G B M 3 cmd
O (5) vendredi-tout-est-per X Assignments: ACCT-2302 x 6 Connect O 10 couples parfaits 4-Ep x b Login education.com/ext/map/index.html?_con%=con&external_browser3D0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddl 2 & 14 Recap O Saved Help Save 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 Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Planning Budget Actual Results Flights 60 60 58 Revenue 24 16,500 2$ 20,700 20,010 Expenses: Wages and salaries 8,544 8,580 8,404 Fuel 2,144 1,980 1,914 Airport fees 2,590 2,740 2,676 Aircraft depreciation 540 540 522 Office expenses 468 300 298 Total expense 14,286 14,140 13,814 Net operating income 24 2,214 24 6,560 2$ 6,196 < Prey 6 of 15 Next > 6. 8. R.
Transcribed Image Text:O (5) vendredi-tout-est-per X Assignments: ACCT-2302 x 6 Connect O 10 couples parfaits 4-Ep x b Login education.com/ext/map/index.html?_con%=con&external_browser3D0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddl 2 & 14 Recap O Saved Help Save 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 Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Planning Budget Actual Results Flights 60 60 58 Revenue 24 16,500 2$ 20,700 20,010 Expenses: Wages and salaries 8,544 8,580 8,404 Fuel 2,144 1,980 1,914 Airport fees 2,590 2,740 2,676 Aircraft depreciation 540 540 522 Office expenses 468 300 298 Total expense 14,286 14,140 13,814 Net operating income 24 2,214 24 6,560 2$ 6,196 < Prey 6 of 15 Next > 6. 8. R.
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