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Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Flights (9) Revenue ($355.00g) Expenses: Wages and salaries ($3,700 + $89.00q) Fuel ($31.009) Airport fees ($880 + $33.00q) Aircraft depreciation ($11.00q) Office expenses ($240 + $1.00q) Total expenses Net operating income Vulcan Flyovers Operating Data For the Month Ended July 31 Flights Revenue Expenses Wages and salaries Fuel Actual Results $ Actual Results 54 16,400 54 $ 16,400 8.468 1,842 8,468 1,842 2,547 594 462 13,913 $ 2,487 Flexible Planning Budget Budget 54 $ 19,170 8,506 1,674 2,662 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. 13,730 $5,440 594 294 Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 52 $ 18,460 54 19,170 8,328 1,612 2,596 8,506 1,674 572 292 13,400 $ 5,060 $ Planning Budget 52 18,460 8,328 1,612

Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Flights (9) Revenue ($355.00g) Expenses: Wages and salaries ($3,700 + $89.00q) Fuel ($31.009) Airport fees ($880 + $33.00q) Aircraft depreciation ($11.00q) Office expenses ($240 + $1.00q) Total expenses Net operating income Vulcan Flyovers Operating Data For the Month Ended July 31 Flights Revenue Expenses Wages and salaries Fuel Actual Results $ Actual Results 54 16,400 54 $ 16,400 8.468 1,842 8,468 1,842 2,547 594 462 13,913 $ 2,487 Flexible Planning Budget Budget 54 $ 19,170 8,506 1,674 2,662 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. 13,730 $5,440 594 294 Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 52 $ 18,460 54 19,170 8,328 1,612 2,596 8,506 1,674 572 292 13,400 $ 5,060 $ Planning Budget 52 18,460 8,328 1,612

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: Flights (9) Revenue ($355.00g) Expenses: Wages and salaries ($3,700 + $89.00q) Fuel ($31.009) Airport fees ($880 + $33.00q) Aircraft depreciation ($11.00q) Office expenses ($240 + $1.00q) Total expenses Net operating income Vulcan Flyovers Operating Data For the Month Ended July 31 Flights Revenue Expenses Wages and salaries Fuel Actual Results $ Actual Results 54 16,400 54 $ 16,400 8.468 1,842 8,468 1,842 2,547 594 462 13,913 $ 2,487 Flexible Planning Budget Budget 54 $ 19,170 8,506 1,674 2,662 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. 13,730 $5,440 594 294 Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 52 $ 18,460 54 19,170 8,328 1,612 2,596 8,506 1,674 572 292 13,400 $ 5,060 $ Planning Budget 52 18,460 8,328 1,612
Transcribed Image Text:Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Flights (9) Revenue ($355.00g) Expenses: Wages and salaries ($3,700 + $89.00q) Fuel ($31.009) Airport fees ($880 + $33.00q) Aircraft depreciation ($11.00q) Office expenses ($240 + $1.00q) Total expenses Net operating income Vulcan Flyovers Operating Data For the Month Ended July 31 Flights Revenue Expenses Wages and salaries Fuel Actual Results $ Actual Results 54 16,400 54 $ 16,400 8.468 1,842 8,468 1,842 2,547 594 462 13,913 $ 2,487 Flexible Planning Budget Budget 54 $ 19,170 8,506 1,674 2,662 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. 13,730 $5,440 594 294 Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 52 $ 18,460 54 19,170 8,328 1,612 2,596 8,506 1,674 572 292 13,400 $ 5,060 $ Planning Budget 52 18,460 8,328 1,612
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