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Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below. Vulcan Flyovera Operating Data For the Month Ended July 31 Flights (9) Revenue ($355.00g) Expenses: Wages and salaries ($3,100 $90.00g) Fuel ($31.00g) Airport fees ($040+ $35.00g) Aircraft depreciation (58.00g) office expenses ($240 $1.00g) Total expenses Net operating income Required: 1. Prepare a flexible budget performance report for July. Flights Revenue Expenses: Wages and salarios Fuel Airport fees Actual Results Actuali Resulta $ 58 16,500 58 16,500 8,280 1,966 2,770 8,200 1,966 2,770 464 466 13,946 $2,554 Flexible Budget The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a discount. 58 $ 20,590 Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values. 0,320 1,798 2,870 464 298 Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 $ Planning Budget 56 $19,000 13,750 13,420 $6,040 $ 6,460 Flexible Budget 8,140 1,736 2,800 448 296 58 20,500 8,320 1,798 2,870 Planning Budget $ 56 19,880 8,140 1,736 2,800

Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below. Vulcan Flyovera Operating Data For the Month Ended July 31 Flights (9) Revenue ($355.00g) Expenses: Wages and salaries ($3,100 $90.00g) Fuel ($31.00g) Airport fees ($040+ $35.00g) Aircraft depreciation (58.00g) office expenses ($240 $1.00g) Total expenses Net operating income Required: 1. Prepare a flexible budget performance report for July. Flights Revenue Expenses: Wages and salarios Fuel Airport fees Actual Results Actuali Resulta $ 58 16,500 58 16,500 8,280 1,966 2,770 8,200 1,966 2,770 464 466 13,946 $2,554 Flexible Budget The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a discount. 58 $ 20,590 Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values. 0,320 1,798 2,870 464 298 Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 $ Planning Budget 56 $19,000 13,750 13,420 $6,040 $ 6,460 Flexible Budget 8,140 1,736 2,800 448 296 58 20,500 8,320 1,798 2,870 Planning Budget $ 56 19,880 8,140 1,736 2,800

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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Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below. Vulean Flyovera Operating Data For the Month Ended July 31 Flights (9) Revenue ($355.00g) Expenses: Wages and salaries ($3,100 $90.00g) Fuel ($31.00g) Airport fees ($840+ $35.00g) Aircraft depreciation (58.00g) office expenses ($240+ $1.00g) Total expenses Net operating income Required: 1. Prepare a flexible budget performance report for July. Flights Revenue Expenses: Wages and salaries Fuel Airport fees Actual Results Actual Resulta 58 $16,500 $ 58 16,500 8,200 1,966 2,770 8,280 1,966 2,770 464 466 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a discount. Flexible Planning Dudget Budget 58 $ 20,590 Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values. 8,320 1,798 2,8707 464 298 13,946 13,750 13,420 $2,554 $6,840 $ 6,460 Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 56 $ 19,000 $ Flexible Budget 8,140 1,736 2,800 448 296 58 20,590 8,320 1,798 2,870 Planning Budget $ 56 19,880 8,140 1,736 2,800
Transcribed Image Text:Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below. Vulean Flyovera Operating Data For the Month Ended July 31 Flights (9) Revenue ($355.00g) Expenses: Wages and salaries ($3,100 $90.00g) Fuel ($31.00g) Airport fees ($840+ $35.00g) Aircraft depreciation (58.00g) office expenses ($240+ $1.00g) Total expenses Net operating income Required: 1. Prepare a flexible budget performance report for July. Flights Revenue Expenses: Wages and salaries Fuel Airport fees Actual Results Actual Resulta 58 $16,500 $ 58 16,500 8,200 1,966 2,770 8,280 1,966 2,770 464 466 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a discount. Flexible Planning Dudget Budget 58 $ 20,590 Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values. 8,320 1,798 2,8707 464 298 13,946 13,750 13,420 $2,554 $6,840 $ 6,460 Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 56 $ 19,000 $ Flexible Budget 8,140 1,736 2,800 448 296 58 20,590 8,320 1,798 2,870 Planning Budget $ 56 19,880 8,140 1,736 2,800
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