9-4

Please answer all parts clearly in similar format as above so I can follow. Thanks!

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: Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Results Flexible Budget Planning Budget 56 56 54 Flights (9) Revenue ($345.00q) $ 16,200 $ 19,320 $ 18,630 Expenses: Wages and salaries ($3,600 + $90.00q) Fuel ($31.00g) 8,600 8,640 8,460 1,904 1,736 1,674 Airport fees ($870 + $32.00g) 2,557 2,662 2,598 Aircraft depreciation ($10.00q) 560 560 540 Office expenses ($250 + $1.00g) 306 384 474 14,095 Total expense 13,904 13,576 Net operating income $ 2,105 $5,416 $ 5,054 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 varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance). Input all amounts as positive values.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Actual Results Flexible Budget Planning Budget Flights 56 Revenue $ 16,200 Expenses: 8,600 1,904 2,557 560 474 14,095 2,105 Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expense Net operating income $ $ $ 56 19,320 8,640 1,736 2,662 560 306 13,904 5,416 $ $ 54 18,630 8,460 1,674 2,598 540 304 13,576 5,054