Login

Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington...

80.2K

Verified Solution

Question

Accounting

Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State that explosively erupted in $1982 .$ 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 $) 57 57 55$

Revenue $($ $ $350.00$ q $)$ $ $16, 100$ $ $19, 950$ $ $19, 250$

Expenses:

Wages and salaries $($ $ $3, 100 +$ $ $89.00$ q $) 8, 135 8, 173 7, 995$

Fuel $($ $ $34.00$ q $) 2, 100 1, 938 1, 870$

Airport fees $($ $ $830 +$ $ $31.00$ q $) 2, 457 2, 597 2, 535$

Aircraft depreciation $($ $ $11.00$ q $) 627 627 605$

Office expenses $($ $ $240 +$ $ $1.00$ q $) 465 297 295$

Total expense $13, 784 13, 632 13, 300$

Net operating income $ $2, 316$ $ $6, 318$ $ $5, 950$

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 $($ i $.$ e $.,$ zero variance $) .$ Input all amounts as positive values. $)$

Answer & Explanation Solved by verified expert

answer-section

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

Psychology

1.2K views

1.Â Â Â Â Â Â Do you believe that Americans may be somewhat more ethnocentric than people in the other Western industrial...

Psychology

1.2K views

Many business students are familiar with the pressure to get internships or part-time jobs in their...

General Management

1.2K views

Jamil Hassan heads a newly formed project management team for a major international corporation. The team...

Geometry

1.2K views

A bridge with a semielliptical arch spans a river as shown here What is the...

Basic Math

1.2K views

?ABC is located in Quadrant I. Point A is 5 units to the right of...

Calculus

1.2K views

a Set up an integral for the area of the shaded region b Evaluate the...

Algebra

1.2K views

Suppose that there are weather patterns in a city. If it is sunny, there is...

Accounting

1.2K views

Bergamo Bay's computer system generated the following trial balance on December...

Accounting

1.2K views

QUESTION TWO [45] The accounting equation is the Alpha of Accounting rules. As the junior...

Accounting

1.2K views

High-Low Cost Estimation and Profit Planning Comparative 2007 and 2008 income statements for Dakota Products...

Accounting

1.2K views

On January 1,2023, a company issued 5-year, 7% bonds with a par value of $400,000....

Accounting

1.2K views

Two accountants for the firm of Elwes and Wright are arguing about the merits of...

1 Answer

$0.99

~~$1.99~~

(Save $1 )

One time Pay

No Ads
Answer to 1 Question
Get free Zin AI - 50 Thousand Words per Month

Best

Unlimited

$4.99*

~~$9.99~~

(Save $5 )

Billed Monthly

No Ads
Answers to Unlimited Questions
Get free Zin AI - 3 Million Words per Month

*First month only

Free

$0

Get this answer for free!
Sign up now to unlock the answer instantly

You can see the logs in the Dashboard.

Sign In

Don't have an account? Sign Up