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 ($350.00q) Expenses: Wages and salaries ($3,200 + $90.009) Fuel ($31.00q) Airport fees ($870 + $31.009) Aircraft depreciation ($11.009) office expenses ($210 + $1.009) Total expenses Net operating income Actual Results Flexible Budget Planning Budget 62 79 60 $ 16,400 $ 21,700 $ 21,000 8,740 8,780 8,600 2,090 1,922 1,860 2,652 2,792 2,730 682 682 660 440 272 270 14,604 14,448 14,120 $ 1,796 $ 7,252 $ 6,880 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 varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Input all amounts as positive values. 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 ($350.00q) Expenses: Wages and salaries ($3,200 + $90.009) Fuel ($31.00q) Airport fees ($870 + $31.009) Aircraft depreciation ($11.009) office expenses ($210 + $1.009) Total expenses Net operating income Actual Results Flexible Budget Planning Budget 62 79 60 $ 16,400 $ 21,700 $ 21,000 8,740 8,780 8,600 2,090 1,922 1,860 2,652 2,792 2,730 682 682 660 440 272 270 14,604 14,448 14,120 $ 1,796 $ 7,252 $ 6,880 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 varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Input all amounts as positive values.
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