Question number :1

question number 2:

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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: Flexible Budget 57 $ 20,520 Planning Budget 55 $ 19,00 Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Results Flights (9) 57 Revenue ($360.009) $ 16,100 Expenses : Wages and salaries ($3,600 + $90.009) 8,690 Fuel ($33.009) 2,045 Airport fees ($870 + $30.009) 2,480 Aircraft depreciation ($10.009) 570 office expenses ($210 + $1.009) 435 Total expense 14,220 Net operating income $ 1,880 8,730 1,881 2,580 570 267 14,028 $ 6,492 8,550 1,815 2,520 550 265 13,700 $ 6,100 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.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 57 $ 20,520 Actual Results 57 Planning Budget 55 $ 19,800 $ 16,100 8,730 8,550 8,690 2,045 2,480 1,881 Flights Revenue Expenses: Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expense Net operating income 1,815 2,520 2,580 570 570 550 265 435 267 14,220 1,880 14,028 6,492 13,700 6,100 $ $ AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February Fixed Variable Actual Component Component Total for per Month per Job February Revenue $ 277 $ 36,030 Technician wages $ 8,100 $ 7,950 Mobile lab operating expenses $ 4,500 $ 33 $ 8,960 office expenses $ 2,500 $ 4 $ 2,910 Advertising expenses $ 1,560 $ 1,630 Insurance $ 2,880 $ 2,880 Miscellaneous expenses $ 960 $ 2 $ 545 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,500 plus $33 per job, and the actual mobile lab operating expenses for February were $8,960. The company expected to work 140 jobs in February, but actually worked 142 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity variances for February (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (1.e., zero variance). Input all amounts as positive values.) AirQual Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Actual Flexible Results Budget Planning Budget Jobs 142 $ 36,030 7,950 8,960 2,910 Revenue Expenses: Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses Total expense Net operating income 1,630 2,880 545 24,875 $ 11,155