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 Actual Results Flexible Budget Planning Budget Flights (q) Revenue ($355.00q) Expenses: Wages and salaries ($3,600 + $87.00g) Fuel ($34.00q) Airport fees ($800 +$32.00g) Aircraft depreciation ($9.009) Office expenses ($240 +$1.00q) Total expenses Net operating income 54 54 52 $ 16,300 $ 19,170 $ 18,460 8,264 8,298 8,124 1,998 1,836 1,768 2,378 2,528 2,464 486 486 468 462 13,588 294 13,442 292 13,116 $ 2,712 $ 5,728 $ 5,344 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 (l.e., zero variance). Input all amounts as positive values. Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Actual Results Flights Revenue Expenses. 54 $ 16.300 Flexible Budget Planning Budget 54 52 $ 19.170 $ 18,460
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 Actual Results Flexible Budget Planning Budget Flights (q) Revenue ($355.00q) Expenses: Wages and salaries ($3,600 + $87.00g) Fuel ($34.00q) Airport fees ($800 +$32.00g) Aircraft depreciation ($9.009) Office expenses ($240 +$1.00q) Total expenses Net operating income 54 54 52 $ 16,300 $ 19,170 $ 18,460 8,264 8,298 8,124 1,998 1,836 1,768 2,378 2,528 2,464 486 486 468 462 13,588 294 13,442 292 13,116 $ 2,712 $ 5,728 $ 5,344 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 (l.e., zero variance). Input all amounts as positive values. Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Actual Results Flights Revenue Expenses. 54 $ 16.300 Flexible Budget Planning Budget 54 52 $ 19.170 $ 18,460
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
Actual
Results
Flexible
Budget
Planning
Budget
Flights (q)
Revenue ($355.00q)
Expenses:
Wages and salaries ($3,600 + $87.00g)
Fuel ($34.00q)
Airport fees ($800 +$32.00g)
Aircraft depreciation ($9.009)
Office expenses ($240 +$1.00q)
Total expenses
Net operating income
54
54
52
$ 16,300
$ 19,170
$ 18,460
8,264
8,298
8,124
1,998
1,836
1,768
2,378
2,528
2,464
486
486
468
462
13,588
294
13,442
292
13,116
$ 2,712
$ 5,728
$ 5,344
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 (l.e., zero
variance). Input all amounts as positive values.
Vulcan Flyovers
Flexible Budget Performance Report
For the Month Ended July 31
Actual
Results
Flights
Revenue
Expenses.
54
$
16.300
Flexible
Budget
Planning
Budget
54
52
$
19.170
$
18,460
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