Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July...
Fantastic news! We've Found the answer you've been seeking!
Question:
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 Flights (g) Revenue ($320.009) Expenses: Wages and salaries ($4,000 + $82.009) Fuel ($23.009) Airport fees ($650 + $38.009) Aircraft depreciation ($7.009) Office expenses ($190 + $2.009) Total expenses Net operating income Actual Results Flexible Budget Planning Budget 48 48 50 $ 13,650 $ 15,360 $ 16,000 8,430 7,936 8,100 1,260 1,104 1,150 2,350 2,474 2,550 336 336 350 460 286 290 12,836 12,136 12,440 $ 814 $ 3,224 $ 3,560 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. Flights Actual Results 48 $ 13,650 Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Revenue and Spending Variances Flexible Planning Activity Variances Budget Budget 48 50 $ 15,360 $ 16,000 Revenue Expenses: Wages and salaries 8,430 7,936 8,100 Fuel 1,260 1,104 1,150 Airport fees 2,350 2,474 2,550 Aircraft depreciation 336 336 350 Office expenses 460 286 290 Total expenses 12,836 12,136 12,440 Net operating income $ 814 $ 3,224 $ 3,560 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 (g) Revenue ($320.009) Expenses: Wages and salaries ($4,000 + $82.009) Fuel ($23.009) Airport fees ($650 + $38.009) Aircraft depreciation ($7.009) Office expenses ($190 + $2.009) Total expenses Net operating income Actual Results Flexible Budget Planning Budget 48 48 50 $ 13,650 $ 15,360 $ 16,000 8,430 7,936 8,100 1,260 1,104 1,150 2,350 2,474 2,550 336 336 350 460 286 290 12,836 12,136 12,440 $ 814 $ 3,224 $ 3,560 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. Flights Actual Results 48 $ 13,650 Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Revenue and Spending Variances Flexible Planning Activity Variances Budget Budget 48 50 $ 15,360 $ 16,000 Revenue Expenses: Wages and salaries 8,430 7,936 8,100 Fuel 1,260 1,104 1,150 Airport fees 2,350 2,474 2,550 Aircraft depreciation 336 336 350 Office expenses 460 286 290 Total expenses 12,836 12,136 12,440 Net operating income $ 814 $ 3,224 $ 3,560
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Coffin Corporation appropriately uses the installment-sales method of accounting to recognize income in its financial statements. The following information is available for 2014 and 2015....
-
The landowners argued that the law often disfavors exculpatory clauses as a matter of public policy, and the court should therefore refuse to enforce these agreements. Comment.
-
Sketch, as best you can, the graph of a function f that satisfies all the following conditions. (a) Its domain is the interval [0, 4] (b) f(0) = f(1) = f(2) = f(3) - f(4) = 1 (c) (d) (e) (f) lim f(x)...
-
Describe the four types of data analytics.
-
Suppose the cross-price elasticity of demand between goods X and Y is 5. How much would the price of good Y have to change in order to increase the consumption of good X by 50 percent?
-
Baird Manufacturing Company was started on January 1, Year 1, when it acquired $87,000 cash by issuing common stock. Baird immediately purchased office furniture and manufacturing equipment costing...
-
Scenario: Henri's older sister Suzanna age 5 2 , has been referred to you so you can help her with her search for a new home near Henri and Lila ( about one half hour outside of Philadelphia ) ....
-
Please provide feedback and improve this argument for the topic the offence/defence of infanticide ultimately just an objectionable patriarchal condescension toward women. Disregards socio-political...
-
Sales for the quarter are $960,000 and Gross Profit is $540,000. Marketing Expenses are $200,000. What is the Cost of Goods Sold for this quarter? Show your calculations.
-
Please solve a) to i) according to the graph given using Microsoft Excel and provide Excel screenshot You have been asked to analyze two mutually exclusive projects. Expected Cash Flows Project A a)...
-
4 Part A A21-g rifle bullet traveling 210 m/s buries itself in a 3.2-kg pendulum hanging on a 22-m-long string, which makes the pendulum swing upward in an arc Determine the vertical and horizontal...
-
Miller Company's contribution format income statement for the most recent month is shown below: Total Sales (25,200 units) Variable expenses $ 226,800 136,080 Contribution margin 90,720 Per Unit $...
-
Drive the expression of theoretical, actual discharge, and Cd in case of horizontal orifice meter attached to a pipe. Draw a suitable diagram for clarity.
-
What are the three kinds of research types? Explain each type.
-
What are the advantages and disadvantages of continuous improvement performance reports? Why do you think some companies adopt this philosophy, but others do not?
-
The XYZ company sells approximately 900,000 gizmos annually. Each gizmo consists of 15 components. Management is currently evaluating which vendor to choose as the primary supplier of one of the...
-
What are the advantages and disadvantages of using RFID technology to implement the specific identification method of accounting for inventory?
Study smarter with the SolutionInn App