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: Flights (9) Revenue ($355.00g) Expenses: Wages and salaries ($3,100 + $92.00g) Fuel ($31.00g) Airport fees ($880 + $35.00g) Aircraft depreciation ($11.00g) Office expenses ($210 + $1.00g) Total expense Net operating income Vulcan Flyovers Operating Data For the Month Ended July 31 Flights Revenue Actual Results $ Actual Results 62 $ 16,100 62 16,100 8,760 2,090 2,925 682 440 14,897 $ 1,203 Flexible Budget 62 $ 22,010 8,804 1,922 3,050 682 272 $ 14,730 $ 7,280 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. 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 Planning Budget Flexible Budget 60 $ 21,300 62 22,010 8,620 1,860 2,980 660 270 14,390 $ 6,910 $ Planning Budget 60 21,300
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: The company measures its activity in terms of flights. Customers can buy individual tickets for overfights 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. Note: Indicate the effect of each variance by selecting "F" for favorable, " U " for unfavorable, and "None" for no effect (l.e., zero variance). Input all amounts as positive values. vamance values
