Vulcan Flyovers offers scenic overflights Helens, the concerning the company's operations in July appear below: Flights (q) Revenue ($350.00g) Expenses: Wages and salaries ($3,300 + $86.00g) Fuel ($33.00g) Airport fees ($890+$32.00g) Aircraft depreciation ($10.00g) Office expenses ($210+ $1.00g) Total expense Net operating income Vulcan Flyovers Operating Data For the Month Ended July 31 Flights Revenue Expenses: Wages and salaries Actual Results $ Actual Results 55 16,200 55 $ 16,200 7,998 7,998 1,979 2,535 550 433 icano in Washington State that explosively erupted in 1982. Data Flexible Budget 55 $ 19,250 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. 8,030 1,815 2,650 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.) 550 265 Vulcan Flyovers Flexible Budget Performance Report For the Month Ented July 31 13,495 13,310 12,986 $ 2,705 $ 5,940 $ 5,564 Flexible Budget Planning Budget $18,550 53 55 19,250 7,858 1,749 2,586 530 263 8,030 $ Planning Budget 53 18,550 7,858
Vulcan Flyovers offers scenic overflights Helens, the concerning the company's operations in July appear below: Flights (q) Revenue ($350.00g) Expenses: Wages and salaries ($3,300 + $86.00g) Fuel ($33.00g) Airport fees ($890+$32.00g) Aircraft depreciation ($10.00g) Office expenses ($210+ $1.00g) Total expense Net operating income Vulcan Flyovers Operating Data For the Month Ended July 31 Flights Revenue Expenses: Wages and salaries Actual Results $ Actual Results 55 16,200 55 $ 16,200 7,998 7,998 1,979 2,535 550 433 icano in Washington State that explosively erupted in 1982. Data Flexible Budget 55 $ 19,250 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. 8,030 1,815 2,650 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.) 550 265 Vulcan Flyovers Flexible Budget Performance Report For the Month Ented July 31 13,495 13,310 12,986 $ 2,705 $ 5,940 $ 5,564 Flexible Budget Planning Budget $18,550 53 55 19,250 7,858 1,749 2,586 530 263 8,030 $ Planning Budget 53 18,550 7,858
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
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Any help as soon as possible would be so appreciated, thanks
Transcribed Image Text:3
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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:
S
Flights (q)
Revenue ($350.00g)
Expenses:
Wages and salaries ($3,300 + $86.00g)
Fuel ($33.00g)
Total expense
Net operating income
W
Airport fees ($890+ $32.00g)
Aircraft depreciation ($10.00g)
Office expenses ($210+ $1.00g)
Flights
Revenue
Expenses:
Wages and salaries
30²
F2
#3
80
F3
E
Vulcan Flyovers
Operating Data
For the Month Ended July 31.
D
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.
Actual Results
$
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.)
$
4
55
16,200
7,998
Q
F4
R
F
%
5
F5
Actual
Results
T
55
$ 16,200
T
7,998
1,979
2,535
G
550
433
13,495
$ 2,705
Vulcan Flyovers
Flexible Budget Performance Report
For the Month Ended July 31
Prev
^
Flexible
Budget
6
55
$ 19,250
$
8,030
1,815
2,650
550
265
13,310
$5,940
F6
Flexible
Budget
55
19,250
Y
8,030
1 of 4
MacBook Air
Planning
Budget
H
53
$ 18,550
&
7
7,858
1,749
2,586
530
263
12,986
$ 5,564
F7
U
Next >
* 00
8
J
DII
F8
$
Planning
Budget
53
18,550
7,858
9
K
F9
0
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0
A
L
F10
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