1.5 3 points eBook 01 Hint Ask Print References 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 ($350.000) Expenses: Vulcan Flyovers Operating Data For the Month Ended July 31 Wages and salaries ($3,100 +$87.00q) Fuel ($34.000) Airport fees ($810 $31.009) Aircraft depreciation ($11.004) Office expenses ($220 +$1.004) Total expense Net operating income Actual Results Flexible Budget Planning Budget 60 60 58 $ 16,000 $ 21,000 $ 20,300 8,286 8,320 8,146 2,202 2,040 1,972 2,560 2,670 2,608 660 660 638 448 280 278 14,156 $ 1,844 13,970 13,642 $ 7,030 $ 6,658 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.) 10 Het 15 poets 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.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flights Revenue Actual Results 60 $ 16,000 Flexible Budget Planning Budget 60 58 $ 21,000 $ 20,300 Expenses Print Wages and salaries 8.286 Fun 2.202 8,320 2,040 8,146 1,972 Airport fees 2.560 2,670 2,608 References Aircraft depreciation 660 660 638 Office expenses 448 Total expense 14,156 280 13.970 278 13,642 Net operating income S 1,844 $ 7,030 $ 6,658