Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. vulcan flyovers offers scenic overflights of mount

Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the companys operations in...

70.2K

Verified Solution

Question

Accounting

Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the companys operations in July appear below:
Vulcan Flyovers
Operating Data
For the Month Ended July 31
Actual Results Flexible Budget Planning Budget
Flights (q)545452
Revenue ($360.00q) $ 16,000 $ 19,440 $ 18,720
Expenses:
Wages and salaries ($3,600+ $86.00q)8,2128,2448,072
Fuel ($32.00q)1,8941,7281,664
Airport fees ($880+ $35.00q)2,6452,7702,700
Aircraft depreciation ($9.00q)486486468
Office expenses ($210+ $1.00q)432264262
Total expenses 13,66913,49213,166
Net operating income $ 2,331 $ 5,948 $ 5,554
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.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students