Exercise 9-4 Saved Help Save & Exit Su Check my wc Vulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Washington State that explosively crupted in 1982. Data concerning the company's operations in July appear below. 10 points Vulcan Plyovers Operating Data For the Month Ende: July 31 Actual Results flexible Budget 51 Planning Budget Tlights 10 eBook $ 16. 200 $ 19,140 S 18,720 I lint Print Revenue (8360.000) Expenses: Wages and salaries ($3.000 + $88.00) Fuel (833.000 Airport fees ($800 - $33.000 Aircraft deoreciation ($10.000) Office expenses ($210 - $1.000) Total expenso Not operating income References 7.716 1.9:16 2. 182 510 132 13. 116 3,084 7, 152 1,782 2,582 510 261 12,920 6,520 7,576 1, 716 2,516 520 262 12,590 6. 130 $ $ S 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 (.e., zero variance). Input all amounts as positive values.) Exercise 9-4 0 Saved Help all amounts as positive values.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget points Actual Results Planning Budget 52 eBook Flights 54 Hint Revenue $ 16.200 $ 19,440 18,720 Print References 7,752 Expenses: Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expense Net operating income 7.716 1.946 2.482 540 432 13,116 3.084 1,782 2,582 540 264 12,920 6,520 7.576 1,716 2,516 520 262 12,590 6,130 $ | $