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 ($340.00g) Vulcan Flyovers Operating Data For the Month Ended July 31 Expenses: Wages and salaries ($3,300 + $90.00g) Fuel ($33.00g) Airport fees ($810 + $33.00g) Aircraft depreciation ($9.00g) Office expenses ($220+ $1.00g) Total expense Net operating income. Actual Results. 59 $ 16,400 8,570 2,111 2,632 531 447 14,291 $ 2,109 Flexible Budget 59 $ 20,060 8,610 1,947 2,757 531 279 14,124 $ 5,936 Planning Budget 57 $ 19,380 8,430 1,881 2,691 513 277 13,792 $ 5,588 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. 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.
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 ($340.00g) Vulcan Flyovers Operating Data For the Month Ended July 31 Expenses: Wages and salaries ($3,300 + $90.00g) Fuel ($33.00g) Airport fees ($810 + $33.00g) Aircraft depreciation ($9.00g) Office expenses ($220+ $1.00g) Total expense Net operating income. Actual Results. 59 $ 16,400 8,570 2,111 2,632 531 447 14,291 $ 2,109 Flexible Budget 59 $ 20,060 8,610 1,947 2,757 531 279 14,124 $ 5,936 Planning Budget 57 $ 19,380 8,430 1,881 2,691 513 277 13,792 $ 5,588 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. 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.
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![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 concerning the company's operations in July appear below:
Flights (g)
Revenue ($340.00g)
Vulcan Flyovers
Operating Data
For the Month Ended July 31
Expenses:
Wages and salaries ($3,300+ $90.00g)
Fuel ($33.00g)
Airport fees ($810 + $33.00g)
Aircraft depreciation ($9.00g)
Office expenses ($220 + $1.00g)
Total expense
Net operating income
Actual
Results
59
$ 16,400
$
8,570
2,111
2,632
531
447
14,291
2,109
Flexible
Budget
59
$ 20,060
8,610
1,947
2,757
531
279
14,124
$ 5,936
Planning
Budget
57
$ 19,380
8,430
1,881
2,691
513
277
13,792
$5,588
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.
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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6f155cdf-8733-4963-903e-2a7b0a85a00a%2F915c6fab-42bf-46e2-8843-6e4a8f892cb6%2F9g9krv8_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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 concerning the company's operations in July appear below:
Flights (g)
Revenue ($340.00g)
Vulcan Flyovers
Operating Data
For the Month Ended July 31
Expenses:
Wages and salaries ($3,300+ $90.00g)
Fuel ($33.00g)
Airport fees ($810 + $33.00g)
Aircraft depreciation ($9.00g)
Office expenses ($220 + $1.00g)
Total expense
Net operating income
Actual
Results
59
$ 16,400
$
8,570
2,111
2,632
531
447
14,291
2,109
Flexible
Budget
59
$ 20,060
8,610
1,947
2,757
531
279
14,124
$ 5,936
Planning
Budget
57
$ 19,380
8,430
1,881
2,691
513
277
13,792
$5,588
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.
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.
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