Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State that explosively...
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Vulcan Flyovers offers scenic overflights of Mount Saint 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 (a) Revenue ($355.00g) Expenses: Wages and salaries ($3,780 $88.00q) Fuel ($31.004) Airport fees ($880 + $30.009) Aircraft depreciation ($10.000) office expenses ($220+ $1.000) Total expense Net operating income Actual Results 55 $ 16,500 Flexible Budget 55 $ 19,525 8,504 1,873 2,340 550 443 13,718 $ 2,798 $ 6,005 8,540 1,705 2,450 550 275 13,520 Planning Budget 53 $ 18,815 8,364 1,643 2,390 538 273 13,200 $ 5,615 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. Required: 1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances. Vulcan Flyovers offers scenic overflights of Mount Saint 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 (a) Revenue ($355.00g) Expenses: Wages and salaries ($3,780 $88.00q) Fuel ($31.004) Airport fees ($880 + $30.009) Aircraft depreciation ($10.000) office expenses ($220+ $1.000) Total expense Net operating income Actual Results 55 $ 16,500 Flexible Budget 55 $ 19,525 8,504 1,873 2,340 550 443 13,718 $ 2,798 $ 6,005 8,540 1,705 2,450 550 275 13,520 Planning Budget 53 $ 18,815 8,364 1,643 2,390 538 273 13,200 $ 5,615 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. Required: 1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances.
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Flexible Budget Performance Report Vulcan Flyovers Calculate Revenue Variances Actual Revenue 35500 ... View the full answer
Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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