1 points Exercise 9-4 (Algo) Prepare a Flexible Budget Performance Report [L09-4] 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 Actual Flexible Planning Results Budget Budget Flights (q) 59 59 57 Revenue ($360.00q) 5 16,300 $ 21,240 5 20,520 Expenses: wages and salaries ($3,800 + $85.00q) 8,785 8,815 8,645 Fuel ($33.00q) 2,111 1,947 1,881 Airport fees ($830 + $33.00q) 2,637 2,777 2,711 Aircraft depreciation ($10.00q) 590 590 570 Office expenses ($250 + $1.00q) 477 309 307 Total expense 14,600 14,438 14,114 Net operating income $ 1,700 $ 6,802 $ 6,406 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. (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.) 6 Answer is not complete. Return to question overflight at a discount. Required: 1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input 5 all amounts as positive values.) points 6 Answer is not complete. Flights 59 59 57 Revenue $ 16,300 $ 4,9409 U o $ 21,240 $ 7209 F 9 $ 20,520 Expenses: Wages and salaries 8,785 34 a F 0 8,815 U 9 8,645 Fuel 2,111 U 0 1,947 U 9 1,881 Airport fees 2,637 F 9 2,777 U 9 2,711 Aircra depreciation 590 None 0 590 U o 570 Ofce expenses 477 U o 309 U 9 307 Total expense 14,600 U 9 14,438 U 9 14,114 Net operating income $ 1,700 U o $ 6,802 F o $ 6,406