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 ($350.00q) Expenses: Wages and salaries ($3,700 + $89.00q) Fuel ($30.00g) Airport fees ($890 + $30.00g) Aircraft depreciation ($10.00q) Office expenses ($250 + $1.00g) Total expenses Net operating income Flights Revenue Expenses: Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expenses Net operating income Actual Results $ Actual Results 55 16,100 55 $ 16,100 8,557 1,820 2,435 550 473 13,835 2,265 8,557 1,820 2,435 550 473 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 53 $ 18,550 55 $ 19,250 13,835 13,640 $ 2,265 $ 5,610 ▶ 8,595 1,650 2,540 S Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 $ 550 305 Flexible Budget 55 19,250 8,417 1,590 2,480 530 303 8,595 1,650 2,540 550 305 13,320 $ 5,230 13,640 5,610 Planning Budget 53 $ 18,550 $ 8,417 1,590 2,480 530 303 13,320 5,230
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 ($350.00q) Expenses: Wages and salaries ($3,700 + $89.00q) Fuel ($30.00g) Airport fees ($890 + $30.00g) Aircraft depreciation ($10.00q) Office expenses ($250 + $1.00g) Total expenses Net operating income Flights Revenue Expenses: Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expenses Net operating income Actual Results $ Actual Results 55 16,100 55 $ 16,100 8,557 1,820 2,435 550 473 13,835 2,265 8,557 1,820 2,435 550 473 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 53 $ 18,550 55 $ 19,250 13,835 13,640 $ 2,265 $ 5,610 ▶ 8,595 1,650 2,540 S Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 $ 550 305 Flexible Budget 55 19,250 8,417 1,590 2,480 530 303 8,595 1,650 2,540 550 305 13,320 $ 5,230 13,640 5,610 Planning Budget 53 $ 18,550 $ 8,417 1,590 2,480 530 303 13,320 5,230
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 5MAD
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