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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 (q) Revenue ($340.00g) Expenses: Wages and salaries ($3,100+ $91.00g) Fuel ($31.00g) Vulcan Flyovers Operating Data For the Month Ended July 31 Airport fees ($840 + $32.00g) Aircraft depreciation ($11.00g) Office expenses ($230 + $1.00g) Total expense Net operating income Flights Actual Results Actual Results 53 $ 16,400 53 7,881 1,811 2,411 583 451 13,137 $ 3,263 Flexible Budget 53 $ 18,020 7,923 1,643 2,536 Planning Budget 51

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 overflights or hire an entire plane for an pverflight at a discount. Required: 7. 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. The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane for an bverflight 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

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