Exercise 9-4 (Algo) Prepare a Flexible Budget Performance Report (LO9-4) 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 Wan Flyvers Operating Data For the Month Ended July 31 Actual Flexible Planning Results Buget Flights ) GO 50 58 Revenue (4350) 316 400 $ 21,000 20,300 Wages and salaries (53,000.06) 8,760 3. BB 3,620 Fuel (5310001 2,020 1,800 1.798 Airport free ($80 - $14.0) 2.790 2,10 2.32 Arcate depreciation (511.80) 660 630 office expenses (5210 . 51.860) 438 270 268 Total expense 14.67 Net operating income 51,724 $ 6,500 56,134 The company measures its activity in terms of nights Customers can buy individual tickets for overtlights or hire an entire plane for an overnight at a discount. Required: 1. Prepare a exible budget performance report for July that includes revenue and spending variances and activity variances Indicate the effect of each variance by selecting for favorable. "U" for unfavorable, and "None for no effect ezere variance). Input all amounts as positive values.) Vulcan Flyover Few Duy Partomance Report For the lionth Ende July 31 The company measures its activity in terms of nights 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 "P" for favorable, "U" for unfavorable, and "None" for no effect (.e., rere variance). Input all amounts a positive values.) Vulcan Flyover Fleide Budget Performance Report For the Month Ended July 11 Planning Anal Results 60 50 5 10.400 5 21.000 $ 20,300 8.620 3,700 2.020 Revenue penses Wages and sales Fuel Aapon lees Aacial deprecaton Ocenes Totalmente topening income 3.000 1.800 2010 000 1.798 2.50 638 2.790 000 270 14.500 14.676 1724 14.100 6114 5 0.500 15