Vulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Washington State that explosively erupted in 1982. Data concerning the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (g) Revenue ($355.00g) Expenses: Wages and salaries ($3,800 + $90.00g) Fuel ($32.00g) Airport fees ($830 + $34.00g) Aircraft depreciation ($9.00g) Office expenses ($200+ $1.00g) Total expense Net operating income Actual Flexible Planning Results Budget Budget 58 56 58 $16,400 $20,590 8,980 9,020 2,022 2,677 522 426 1,856 2,802 522 258 $19,880 8,840 1,792 2,734 504 256 14,627 14,458 14,126 $ 1,773 $ 6,132 $ 5,754 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane for an

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Vulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Washington State that explosively erupted in 1982. Data
concerning the company's operations in July appear below:
Vulcan Flyovers
Operating Data
For the Month Ended July 31
Flights (g)
Revenue ($355.00g)
Expenses:
Wages and salaries ($3,800 + $90.00g)
Fuel ($32.00g)
Airport fees ($830 + $34.00g)
Aircraft depreciation ($9.00g)
Office expenses ($200 + $1.00g)
Total expense
Net operating income
Actual
Results
58
Flexible Planning
Budget
Budget
56
58
$ 16,400 $20,590 $19,880
8,980
2,022
2,677
522
426
14,627
9,020
1,856
2,802
522
258
14,458
14,126
$ 1,773 $ 6,132 $ 5,754
8,840
1,792
2,734
504
256
The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane for an
overflight at a discount.
Transcribed Image Text:Vulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Washington State that explosively erupted in 1982. Data concerning the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (g) Revenue ($355.00g) Expenses: Wages and salaries ($3,800 + $90.00g) Fuel ($32.00g) Airport fees ($830 + $34.00g) Aircraft depreciation ($9.00g) Office expenses ($200 + $1.00g) Total expense Net operating income Actual Results 58 Flexible Planning Budget Budget 56 58 $ 16,400 $20,590 $19,880 8,980 2,022 2,677 522 426 14,627 9,020 1,856 2,802 522 258 14,458 14,126 $ 1,773 $ 6,132 $ 5,754 8,840 1,792 2,734 504 256 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane for an overflight at a discount.
Flights
Revenue
Expenses:
Wages and salaries
Fuel
Airport fees
Aircraft depreciation
Office expenses
Total expense
Net operating income
Actual Results
FA
$
$
58
16,400
8,980
2,022
2,677
522
426
14,627
1,773
Vulcan Flyovers
Flexible Budget Performance Report
For the Month Ended July 31
$
$
FA
Flexible
Budget
58
20,590
9,020
1,856
2,802
522
258
14,458
6,132
Planning
Budget
$
$
56
19,880
8,840
1,792
2,734
504
256
14,126
5,754
Transcribed Image Text:Flights Revenue Expenses: Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expense Net operating income Actual Results FA $ $ 58 16,400 8,980 2,022 2,677 522 426 14,627 1,773 Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 $ $ FA Flexible Budget 58 20,590 9,020 1,856 2,802 522 258 14,458 6,132 Planning Budget $ $ 56 19,880 8,840 1,792 2,734 504 256 14,126 5,754
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