Please do not give solution in image format thanku Required:1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances. (Indicatethe effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Inputall amounts as positive values.)FlightsRevenueExpenses:Wages and salariesFuelAirport feesAircraft depreciationOffice expensesTotal expenseNet operating incomeActual Results$$5316,4007,9791,8622,53053045113,3523,048Vulcan FlyoversFlexible Budget Performance ReportFor the Month Ended July 31$$FlexibleBudget5319,0808,0171,6962,65553028313,1815,899$PlanningBudget5118,3607,8391,6322,58551028112,8475,513 Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State that explosively erupted in 1982. Dataconcerning the company's operations in July appear below:Flights (g)Revenue ($360.00g)Vulcan FlyoversOperating DataFor the Month Ended July 31Expenses:Wages and salaries ($3,300 + $89.00g)Fuel ($32.00g)Airport fees ($800 + $35.00g)Aircraft depreciation ($10.00g)Office expenses ($230 + $1.00g)Total expenseNet operating incomeActualResults53$ 16,400$7,9791,8622,53053045113,3523,048FlexibleBudget53$ 19,0808,0171,6962,65553028313,181$ 5,899PlanningBudget51$ 18,3607,8391,6322,58551028112,847$ 5,513The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane for anoverflight at a discount.

Name: Please do not give solution in image format thanku Required:1. Prepare
Uploaded: 2024-03-05T11:50:36.000Z
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Description: Please do not give solution in image format thanku Required:1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances. (Indicatethe effect of each variance by selecting "F" for favora

Variance analysis: it is analyzing the differences between the cost actually incurred to that of the…

Business

Accounting

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 (9) Revenue ($360.00g) Vulcan Flyovers Operating Data For the Month Ended July 31 Expenses: Wages and salaries ($3,300 + $89.00g) Fuel ($32.00g) Airport fees ($800+ $35.00g) Aircraft depreciation ($10.00g) Office expenses ($230+ $1.00g) Total expense Net operating income. Actual Results. 53 $ 16,400 $ 7,979 1,862 2,530 530 451 13,352 3,048 Flexible Budget 53 $ 19,080 8,017 1,696 2,655 530 283 13,181 $ 5,899 Planning Budget 51 $ 18,360 7,839 1,632 2,585 510 281 12,847 $ 5,513 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.