Homework Help is Here – Start Your Trial Now!
Business
Accounting
Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($345.009) Expenses: Wages and salaries ($3,500 + $90.009) Fuel ($33.009) Airport fees ($830 +$30.009) Aircraft depreciation ($8.009) Office expenses ($220 + $1.009) Total expenses Net operating income Actual Results Flexible Budget Planning Budget 56 56 54 $ 16,000 $ 19,320 $ 18,630 8,500 8,540 8,360 2,012 1,848 1,782 2,400 2,510 2,450 448 448 432 444 276 274 13,804 13,622 13,298 $ 2,196 $ 5,698 $ 5,332 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. Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flights Revenue Actual Results 56 $ 16,000 Flexible Budget Planning Budget 56 54 $ 19,320 $ 18,630 Expenses: Wages and salaries 8,500 8,540 8,360 Fuel 2,012 1,848 1,782 Airport fees 2,400 2,510 2,450 Aircraft depreciation 448 448 432 Office expenses 444 276 274 Total expenses 13,804 13,622 13,298 Net operating income $ 2,196 $ 5,698 $ 5,332

Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($345.009) Expenses: Wages and salaries ($3,500 + $90.009) Fuel ($33.009) Airport fees ($830 +$30.009) Aircraft depreciation ($8.009) Office expenses ($220 + $1.009) Total expenses Net operating income Actual Results Flexible Budget Planning Budget 56 56 54 $ 16,000 $ 19,320 $ 18,630 8,500 8,540 8,360 2,012 1,848 1,782 2,400 2,510 2,450 448 448 432 444 276 274 13,804 13,622 13,298 $ 2,196 $ 5,698 $ 5,332 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. Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flights Revenue Actual Results 56 $ 16,000 Flexible Budget Planning Budget 56 54 $ 19,320 $ 18,630 Expenses: Wages and salaries 8,500 8,540 8,360 Fuel 2,012 1,848 1,782 Airport fees 2,400 2,510 2,450 Aircraft depreciation 448 448 432 Office expenses 444 276 274 Total expenses 13,804 13,622 13,298 Net operating income $ 2,196 $ 5,698 $ 5,332

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter1: Introduction To Managerial Accounting
Section: Chapter Questions
Problem 6BE: Jakes Cabins is a small motel chain with locations near the national parks of Utah, Wyoming, and...
See similar textbooks
icon
Related questions
Question
Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($345.009) Expenses: Wages and salaries ($3,500 + $90.009) Fuel ($33.009) Airport fees ($830 +$30.009) Aircraft depreciation ($8.009) Office expenses ($220 + $1.009) Total expenses Net operating income Actual Results Flexible Budget Planning Budget 56 56 54 $ 16,000 $ 19,320 $ 18,630 8,500 8,540 8,360 2,012 1,848 1,782 2,400 2,510 2,450 448 448 432 444 276 274 13,804 13,622 13,298 $ 2,196 $ 5,698 $ 5,332 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. Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flights Revenue Actual Results 56 $ 16,000 Flexible Budget Planning Budget 56 54 $ 19,320 $ 18,630 Expenses: Wages and salaries 8,500 8,540 8,360 Fuel 2,012 1,848 1,782 Airport fees 2,400 2,510 2,450 Aircraft depreciation 448 448 432 Office expenses 444 276 274 Total expenses 13,804 13,622 13,298 Net operating income $ 2,196 $ 5,698 $ 5,332
Transcribed Image Text:Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($345.009) Expenses: Wages and salaries ($3,500 + $90.009) Fuel ($33.009) Airport fees ($830 +$30.009) Aircraft depreciation ($8.009) Office expenses ($220 + $1.009) Total expenses Net operating income Actual Results Flexible Budget Planning Budget 56 56 54 $ 16,000 $ 19,320 $ 18,630 8,500 8,540 8,360 2,012 1,848 1,782 2,400 2,510 2,450 448 448 432 444 276 274 13,804 13,622 13,298 $ 2,196 $ 5,698 $ 5,332 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. Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flights Revenue Actual Results 56 $ 16,000 Flexible Budget Planning Budget 56 54 $ 19,320 $ 18,630 Expenses: Wages and salaries 8,500 8,540 8,360 Fuel 2,012 1,848 1,782 Airport fees 2,400 2,510 2,450 Aircraft depreciation 448 448 432 Office expenses 444 276 274 Total expenses 13,804 13,622 13,298 Net operating income $ 2,196 $ 5,698 $ 5,332
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS