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 ($345.00g) Expenses: Wages and salaries ($3,700+ $87.00g) Fuel ($31.00g) Airport fees ($880 +$30.00g) Aircraft depreciation ($10.00g) office expenses ($200 + $1.00q) Total expense Net operating income. Actual Results Flexible Budget Planning Budget 60 60 58 $16,200 $ 20,700 $ 20,010 8,886 8,920 8,746 2,028 1,860 1,798 2,555 2,680 2,620 600 600 580 428 260 258 14,497 14,320 14,002 $ 1,703 $ 6,380 $ 6,008 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 "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

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 ($345.00g) Expenses: Wages and salaries ($3,700+ $87.00g) Fuel ($31.00g) Airport fees ($880 +$30.00g) Aircraft depreciation ($10.00g) office expenses ($200 + $1.00q) Total expense Net operating income. Actual Results Flexible Budget Planning Budget 60 60 58 $16,200 $ 20,700 $ 20,010 8,886 8,920 8,746 2,028 1,860 1,798 2,555 2,680 2,620 600 600 580 428 260 258 14,497 14,320 14,002 $ 1,703 $ 6,380 $ 6,008 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 "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

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Define Profi t and loss (P&L) statement
b. Working/Application of ABC analysis?
What does RI measure?
Select one:a.(iii) and (iv) onlyb.(ii) and (iii) onlyc.(i) and (ii) onlyd.All four
Concept of Reconcilation statement with an example .
duct
help me with this 2 pls
Describe EVA.
question G and f.
E x p l a i n t h e l i m i t a t i o n s o f b r e a k e v e n a n a l y s i s.
dinghe frieThe wdh d