+ Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below:Vulcan FlyoversOperating DataFor the Month Ended July 31Flights (9)Revenue ($345.00q)Expenses:Wages and salaries ($3,400 + $89.009)Fuel ($30.009)Airport fees ($840 + $34.009)Aircraft depreciation ($8.009)Office expenses ($250 + $1.009)Total expensesNet operating incomeActualResultsFlexibleBudgetPlanningBudget545452$ 16,200$ 18,630$ 17,9408,1688,2068,0281,7901,6201,5602,5262,6762,60843247243241613,38830413,23830212,914$ 2,812$ 5,392$ 5,026The company measures its activity in terms of flights. Customers can buy Individual tickets for overflights or hire an entire plane at adiscount.Required:1. Prepare a flexible budget performance report for July.Note: Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zerovarlance). Input all amounts as positive values.Vulcan FlyoversFlexible Budget Performance ReportFor the Month Ended July 31FlightsRevenueActual ResultsRevenue and SpendingVariances54$16,200FlexibleActivity VariancesBudgetPlanningBudget5452$18,630$17,940Expenses:Wages and salaries8,1688,2068,028Fuel1,7901,6201,560Airport fees2,5262,6762,608Aircraft depreciation432432416Office expenses472304302Total expenses13,38813,23812,914Net operating income$2,812$5,392$5,026

Performance Report-The quality and timeliness of the performance report affect the intervention…

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 (l.e., zero varlance). Input all amounts as positive values.

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 (l.e., zero varlance). Input all amounts as positive values.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter7: Allocating Costs Of Support Departments And Joint Products

Section: Chapter Questions

Problem 30E: A company uses charging rates to allocate service department costs to the using departments. The...

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Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($350.00 q) Expenses: Wages and salaries ($3,600 + $88.00 q) Fuel ($31.00 q) Airport fees ($880 + $33.00 q) Aircraft depreciation ($10.00q) Actual Results Flexible Budget Planning Budget 56 56 54 $ 16,400 $ 19,600 $ 18,900 8,492 1,904 2,588 560 454 8,528 1,736 2,728 560 286 13,998 $ 2,402 Office expenses ($230 + $1.00q) Total expenses Net operating income 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: 1. 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. 8,352 1,674 2,662 540 284 13,512 $…
Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($345.00g) Expenses: Wages and salaries ($3,800 + $91.00q) Fuel ($31.009) Airport fees ($820 + $32.00q) Aircraft depreciation ($11.00q) Office expenses ($240 + $1.00g) Total expenses Net operating income Flights Revenue Expenses: Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expenses Net operating income Actual Results $ $ Actual Results 53 16,500 53 $ 16,500 8,581 1,811 2,386 583 461 13,822 2,678 8,581 1,811 2,386 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a discount. 583 461 Required: 1. 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…
Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($345.00g) Expenses: Wages and salaries ($3,200 + $87.00q) Fuel ($33.009) Airport fees ($850 +$30.009) Aircraft depreciation ($10.00q) Office expenses ($240 + $1.009) Total expenses Net operating income Actual Results Flexible Budget Planning Budget 55 55 53 $ 16,400 $ 18,975 $ 18,285 7,951 7,985 7,811 1,979 1,815 1,749 2,355 2,500 2,440 550 550 530 463 295 293 13,298 13,145 12,823 $ 3,102 $ 5,830 $ 5,462 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: 1. 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…
Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($340.00q) Expenses: Wages and salaries ($3,400 + $91.00q) Fuel ($32.00q) Airport fees ($870 + $34.00q) Aircraft depreciation ($10.000) Office expenses ($210+ $1.00q) Total expenses Net operating income Flights Revenue Expenses: Wages and salaries Actual Results $ Actual Results 56 16,200 56 $ 16, 200 8,454 8,454 1,958 2,649 560 434 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a discount. Flexible Budget 56 $19,040 Required: 1. 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. 8,496 1,792 2,774 560 266 14,055…
Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($340.00q) Expenses: Wages and salaries ($3,700 + $88.00q) Fuel ($30.009) Airport fees ($820 +$31.00q) Aircraft depreciation ($8.00q) Office expenses ($230 + $1.009) Total expenses Net operating income Actual Results Flexible Budget Planning Budget 52 52 50 $ 16,300 $ 17,680 $ 17,000 8,240 8,276 8,100 1,730 1,560 1,500 2,327 2,432 2,370 416 416 400 450 282 280 13,163 12,966 12,650 $ 3,137 $ 4,714 $ 4,350 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: 1. 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…
Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below. Vulean Flyovera Operating Data For the Month Ended July 31 Flights (9) Revenue ($355.00g) Expenses: Wages and salaries ($3,100 $90.00g) Fuel ($31.00g) Airport fees ($840+ $35.00g) Aircraft depreciation (58.00g) office expenses ($240+ $1.00g) Total expenses Net operating income Required: 1. Prepare a flexible budget performance report for July. Flights Revenue Expenses: Wages and salaries Fuel Airport fees Actual Results Actual Resulta 58 $16,500 $ 58 16,500 8,200 1,966 2,770 8,280 1,966 2,770 464 466 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a discount. Flexible Planning Dudget Budget 58 $ 20,590 Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive…
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Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Flights (9) Revenue ($355.00g) Expenses: Wages and salaries ($3,700 + $89.00q) Fuel ($31.009) Airport fees ($880 + $33.00q) Aircraft depreciation ($11.00q) Office expenses ($240 + $1.00q) Total expenses Net operating income Vulcan Flyovers Operating Data For the Month Ended July 31 Flights Revenue Expenses Wages and salaries Fuel Actual Results $ Actual Results 54 16,400 54 $ 16,400 8.468 1,842 8,468 1,842 2,547 594 462 13,913 $ 2,487 Flexible Planning Budget Budget 54 $ 19,170 8,506 1,674 2,662 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: 1. 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…
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: Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($355.00g) Expenses: Wages and salaries ($3,200+ $89.009) Fuel ($33.009) Airport fees ($840 + $32.009) Aircraft depreciation ($11.00q) Office expenses ($200 + $1.009) Total expense Net operating income Actual Results Flexible Budget Planning Budget 53 53 51 $ 16,300 $ 18,815 $ 18,105 7,879 7,917 7,739 1,913 1,749 1,683 2,421 2,536 2,472 583 583 561 421 253 251 13,217 13,038 12,706 $ 3,083 $ 5,777 $ 5,399 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…
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 ($340.009) Vulcan Flyovers Operating Data For the Month Ended July 31 Expenses: Wages and salaries ($3,200 + $90.009) Fuel ($30.009) Airport fees ($800 + $33.009) Aircraft depreciation ($9.009) office expenses ($230 + $1.009) Total expense Net operating income Actual Results 55 $ 16,300 8,110 1,820 2,510 495 453 13,388 $ 2,912 Flexible Budget 55 $ 18,700 8,150 1,650 2,615 495 285 13,195 $ 5,505 Planning Budget 53 $ 18,020 7,970 1,590 2,549 477 283 12,869 $ 5,151 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…