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Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Flights (q) Revenue ($350.00g) Expenses: Wages and salaries ($3,700+ $86.00g) Fuel ($31.00g) Airport fees ($810 + $34.00g) Aircraft depreciation ($10.00g) Office expenses ($230+ $1.00g) Total expenses Net operating income Flights Revenue Expenses: Wages and salaries Fuel Vulcan Flyovers Operating Data For the Month Ended July 31 Airport fees Aircraft depreciation Office expenses Total expenses Net operating income Actual Results $ $ 59 16,400 8,742 1,997 2,666 Actual Results 590 457 59 $ 16,400 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a discount. 14,452 1,948 8,742 1,997 2,666 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. 590 457 Flexible Planning Budget Budget 59 $ 20,650 8,774 1,829 2,816 14,452 14,298 $ 1,948. $ 6,352 $ $ 590 289 Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 57 $ 19,950 59 20,650 8,602 1,767 2,748 8,774 1,829 2,816 590 289 14,298 6,352 570 287 13,974 $5,976 $ $ Planning Budget 57 19,950 8,602 1,767 2,748 570 287 13,974 5,976

Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Flights (q) Revenue ($350.00g) Expenses: Wages and salaries ($3,700+ $86.00g) Fuel ($31.00g) Airport fees ($810 + $34.00g) Aircraft depreciation ($10.00g) Office expenses ($230+ $1.00g) Total expenses Net operating income Flights Revenue Expenses: Wages and salaries Fuel Vulcan Flyovers Operating Data For the Month Ended July 31 Airport fees Aircraft depreciation Office expenses Total expenses Net operating income Actual Results $ $ 59 16,400 8,742 1,997 2,666 Actual Results 590 457 59 $ 16,400 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a discount. 14,452 1,948 8,742 1,997 2,666 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. 590 457 Flexible Planning Budget Budget 59 $ 20,650 8,774 1,829 2,816 14,452 14,298 $ 1,948. $ 6,352 $ $ 590 289 Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 57 $ 19,950 59 20,650 8,602 1,767 2,748 8,774 1,829 2,816 590 289 14,298 6,352 570 287 13,974 $5,976 $ $ Planning Budget 57 19,950 8,602 1,767 2,748 570 287 13,974 5,976

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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. Data concerning the company's operations in July appear below: Flights (q) Revenue ($350.00g) Expenses: Wages and salaries ($3,700 + $86.00g) Fuel ($31.00g) Airport fees ($810 + $34.00g) Aircraft depreciation ($10.00g) Office expenses ($230 + $1.00g) Total expenses Net operating income Flights Revenue Expenses: Wages and salaries Fuel Vulcan Flyovers Operating Data For the Month Ended July 31 Airport fees Aircraft depreciation Office expenses Total expenses Net operating income Actual Results $ $ Actual Results 59 16,400 59 $ 16,400 8,742 1,997 2,666 590 457 14,452 1,948 8,742 1,997 2,666 590 457 14,452 $ 1,948 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. Flexible Planning Budget Budget 59 $ 20,650 $ 8,774 1,829 2,816 $ 590 289 14,298 $ 6,352 Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 59 57 $ 19,950 20,650 8,602 1,767 2,748 8,774 1,829 2,816 590 289 14,298 6,352 570 287 13,974 $ 5,976 $ $ Planning Budget 57 19,950 8,602 1,767 2,748 570 287 13,974 5,976
Transcribed Image Text:Exercise 9-4 (Algo) Prepare a Flexible Budget Performance Report [LO9-4] Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Flights (q) Revenue ($350.00g) Expenses: Wages and salaries ($3,700 + $86.00g) Fuel ($31.00g) Airport fees ($810 + $34.00g) Aircraft depreciation ($10.00g) Office expenses ($230 + $1.00g) Total expenses Net operating income Flights Revenue Expenses: Wages and salaries Fuel Vulcan Flyovers Operating Data For the Month Ended July 31 Airport fees Aircraft depreciation Office expenses Total expenses Net operating income Actual Results $ $ Actual Results 59 16,400 59 $ 16,400 8,742 1,997 2,666 590 457 14,452 1,948 8,742 1,997 2,666 590 457 14,452 $ 1,948 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. Flexible Planning Budget Budget 59 $ 20,650 $ 8,774 1,829 2,816 $ 590 289 14,298 $ 6,352 Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 59 57 $ 19,950 20,650 8,602 1,767 2,748 8,774 1,829 2,816 590 289 14,298 6,352 570 287 13,974 $ 5,976 $ $ Planning Budget 57 19,950 8,602 1,767 2,748 570 287 13,974 5,976
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