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
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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F00b46d52-9362-441c-b6de-66adf621b2fa%2F2876b7ed-a9e3-4937-8021-cbe15a21ae29%2Fbo02il_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. 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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