lcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State that explosively erupted i 82. Data concerning the company's operations in July appear below: Flights (q) Revenue ($350.00q) Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Results Expenses: Wages and salaries ($3,200 + $87.00g) Fuel ($33.00q) 58 $ 16,200 8,212 2,078 2,722 580 436 Flexible Budget 14,028 $ 2,172 58 $ 20,300 8,246 1,914 2,852 Airport fees ($880 + $34.00g) Aircraft depreciation ($10.00q) Office expenses ($210 + $1.00q) Total expense Net operating income e company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire p 580 268 Planning Budget 13,860 $ 6,440 56 $ 19,600 8,072 1,848 2,784 560 266 13,530 $ 6,070
lcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State that explosively erupted i 82. Data concerning the company's operations in July appear below: Flights (q) Revenue ($350.00q) Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Results Expenses: Wages and salaries ($3,200 + $87.00g) Fuel ($33.00q) 58 $ 16,200 8,212 2,078 2,722 580 436 Flexible Budget 14,028 $ 2,172 58 $ 20,300 8,246 1,914 2,852 Airport fees ($880 + $34.00g) Aircraft depreciation ($10.00q) Office expenses ($210 + $1.00q) Total expense Net operating income e company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire p 580 268 Planning Budget 13,860 $ 6,440 56 $ 19,600 8,072 1,848 2,784 560 266 13,530 $ 6,070
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![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:
Flights (q)
Revenue ($350.00g)
Expenses:
Wages and salaries ($3,200 + $87.00q)
Fuel ($33.00q)
Airport fees ($880 + $34.00q)
Aircraft depreciation ($10.009)
Office expenses ($210 + $1.00q)
Total expense
Net operating income
Flights
Revenue
Expenses:
Wages and salaries
Fuel
Vulcan Flyovers
Operating Data
For the Month Ended July 31
Actual
Results
Airport fees
Aircraft depreciation
Office expenses
Total expense
Net operating income
Actual Results
$
$
58
$ 16,200
58
16,200
8,212
2,078
2,722
8,212
2,078
2,722
580
436
14,028
2,172
580
436
14,028
$ 2,172
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.
Flexible
Budget
Required:
1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances.
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.
58
$ 20,300
8,246
1,914
2,852
580
268
$
13,860
$ 6,440
$
Vulcan Flyovers
Flexible Budget Performance Report
For the Month Ended July 31
Flexible
Budget
Planning
Budget
58
20,300
56
$ 19,600
8,246
1,914
2,852
580
268
13,860
6,440
8,072
1,848
2,784
560
266
13,530
$ 6,070
$
$
Planning
Budget
56
19,600
8,072
1,848
2,784
560
266
13,530
6,070](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9fe591d1-b20e-4716-b178-bb74293a145f%2Fc89387a2-2453-45f0-84c6-50e30cedc0ce%2Fyajule9_processed.png&w=3840&q=75)
Transcribed Image Text: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:
Flights (q)
Revenue ($350.00g)
Expenses:
Wages and salaries ($3,200 + $87.00q)
Fuel ($33.00q)
Airport fees ($880 + $34.00q)
Aircraft depreciation ($10.009)
Office expenses ($210 + $1.00q)
Total expense
Net operating income
Flights
Revenue
Expenses:
Wages and salaries
Fuel
Vulcan Flyovers
Operating Data
For the Month Ended July 31
Actual
Results
Airport fees
Aircraft depreciation
Office expenses
Total expense
Net operating income
Actual Results
$
$
58
$ 16,200
58
16,200
8,212
2,078
2,722
8,212
2,078
2,722
580
436
14,028
2,172
580
436
14,028
$ 2,172
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.
Flexible
Budget
Required:
1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances.
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.
58
$ 20,300
8,246
1,914
2,852
580
268
$
13,860
$ 6,440
$
Vulcan Flyovers
Flexible Budget Performance Report
For the Month Ended July 31
Flexible
Budget
Planning
Budget
58
20,300
56
$ 19,600
8,246
1,914
2,852
580
268
13,860
6,440
8,072
1,848
2,784
560
266
13,530
$ 6,070
$
$
Planning
Budget
56
19,600
8,072
1,848
2,784
560
266
13,530
6,070
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