Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July...
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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 (9) Revenue ($350.000) Expenses: Wages and salaries ($3,100 $91.009) Fuel ($30.00q) Airport fees (5870 +$31.004) Aircraft depreciation ($9.009) Office expenses ($230 $1.009) Total expenses Net operating income Actual Results Flexible Budget Planning Budget 53 53 51 $ 16,200 $ 18,550 $ 17,850 7,881 7,923 7,741 1,760 1,590 1,530 2,368 2,513 2,451 477 477 459 451 283 281 12,937 $3,263 12,786 12,462 $ 5,764 $5,388 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. Vulcan Flyovers 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. Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible ok Actual Results Budget Planning Budget 4 Flights Revenue 53 53 51 16,200 $ 18.550 $ 17,850 4 ences Expenses Wages and salaries 7,881 7,923 7,741 Fuel 1,760 1,590 1,530 Airport fees 2.368 2.513 2,451 Aircraft depreciation 477 477 459 Office expenses 451 283 281 Total expenses 12,937 12,786 12.462 Net operating income $ 3,263 $ 5.764 5,388 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 (9) Revenue ($350.000) Expenses: Wages and salaries ($3,100 $91.009) Fuel ($30.00q) Airport fees (5870 +$31.004) Aircraft depreciation ($9.009) Office expenses ($230 $1.009) Total expenses Net operating income Actual Results Flexible Budget Planning Budget 53 53 51 $ 16,200 $ 18,550 $ 17,850 7,881 7,923 7,741 1,760 1,590 1,530 2,368 2,513 2,451 477 477 459 451 283 281 12,937 $3,263 12,786 12,462 $ 5,764 $5,388 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. Vulcan Flyovers 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. Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible ok Actual Results Budget Planning Budget 4 Flights Revenue 53 53 51 16,200 $ 18.550 $ 17,850 4 ences Expenses Wages and salaries 7,881 7,923 7,741 Fuel 1,760 1,590 1,530 Airport fees 2.368 2.513 2,451 Aircraft depreciation 477 477 459 Office expenses 451 283 281 Total expenses 12,937 12,786 12.462 Net operating income $ 3,263 $ 5.764 5,388
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