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0.55 points Skipped eBook Hint Print References Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below:
0.55 points Skipped eBook Hint Print References Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Flights (q) Revenue ($355.00q) Vulcan Flyovers Operating Data For the Month Ended July 31 Expenses: Wages and salaries ($3,700 + $89.00q) Fuel ($32.00q) Airport fees ($870 + $32.00q) Aircraft depreciation ($9.00g) Office expenses ($220 + $1.00q) Total expenses Net operating income Actual Results 54 $ 16,400 8,468 1,894 2,468 486 442 13,7 $ 2,642 Flexible Budget 54 $ 19,170 8,506 1,728 2,598 486 274 13,592 $ 5,578 Planning Budget 52 $ 18,460 8,328 1,664 2,534 468 272 13,266 $ 5,194 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 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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