Check my 1 Vulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Washington State that explosively erupted in 1982. Data concerning the company's operations in July appear below: 5 points BO Hint Vulcan Flyovern Operating Data For the Month Ended July 31 Actual Plexible Planning Results Budget Dudget Flights (9) 48 48 50 Revenue ($320.00) $ 13,650 $ 15,360 $ 16.000 Expenses: Wages and salaries ($4,000 + $92.009) 8,430 7,936 8,100 Puel ($23.009) 1,260 1,104 1,150 Airport fees (5650 + $38.000) 2,350 2,474 2.550 Aircraft depreciation ($7.000) 336 350 Office expenses ($190 - $2.000) 460 286 290 Total expense 12,836 12,136 12,440 $ Net operating income 814 $ 3,224 $ 3,560 Print References 336 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.) Vulcan Flyovers Flexible Budget Performance Report Check 1 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. 5 points 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.) ook Print Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 48 References Actual Results 48 Planning Budget 50 Flights $ 13.650 $ 15,360 $ 16,000 7.936 Revenue Expenses Wages and salarios Fuel Airport foes Aircraft depreciation Office expenses Total expense Net operating income 8.430 1.260 2,350 336 1,104 2,474 336 2861 12,136 3,224 8,100 1.150 2,550 350 290 460 12,836 12,440 3,560 $ 814 $ $ Che 2 You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president has asked that you review the company's costing system and do what you can to help us get better control of our manufacturing overhead costs." You find that the company has never used a flexible budget, and you suggest that preparing such a budget would be an excellent first step in overhead planning and control. After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March: 5 points eBook Actual Coat in March $ 24,200 $78,100 $ 8,400 $ 149,600 $ 71,500 Cost Formula Utilities $20,600 + $0.10 per machine-hour Maintenance $40,000 - $1.60 per machine-hour Supplies $0.30 per machine-hour Indirect labor $130,000 + $0.70 per machine-hour Depreciation $70,000 Print References During March, the company worked 26,000 machine-hours and produced 15,000 units. The company had originally planned to work 30,000 machine-hours during March. Required: 1. Calculate the activity variances for March. 2. Calculate the spending variances for March. Complete this question by entering your answers in the tabs below. Required Required 2 5 points Required 1 Required 2 eBook Calculate the activity variances for March. (Indicate the effect of each var unfavorable, and "None" for no effect (i.e., zero variance). Input all amou Hint Print References FAB Corporation Activity Variances For the Month Ended March 31 Utilities Maintenance Supplies Indirect labor Depreciation Total oints Required 1 Required 2 Calculate the spending variances for March. (Indicate the effect of each variance unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as eBook Hint Print FAB Corporation Spending Variances For the Month Ended March 31 References Utilities Maintenance Supplies Indirect labor Depreciation Total