Exercise 10 4 Prepare a Flexible Budget Performance Report [L010 41 Vurcan Flyovers offers scenic overflights of Mount St Helens, the volcano in Washington State that explosively erupted in 1982 Data concerning the company operations in July appear below Flexible Budget Planning Budget 519 320 $18.630 Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Results Flights (e) Revenue ($345.00) 516.100 Expenses Wages and salaries ($3,500 59100g) 8.554 Fuel (32 009) 1.968 Airport fees (3090 $35.000) 2.715 Aircrat depreciation ($9.000) Office expenses (52.30 + $1000) Total expense 14105 Net operating income $ 1.915 8.596 1,792 2.850 8.414 1.728 2.780 285 14,028 $ 5.292 13 692 54938 The company measures its activity in terms of lights Customers can buy individual tickets for overflights or hire an entire plane for an overflight at a discount Required: 1. Complete the flexible budget performance report abstract for July (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie zero variance). Input all amounts as positive values.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Revenue and Spending Variances Activity Variances Revenue Type here to search O Bae 9 AO ENS 255 PM The company measures its activity in terms of Rights Customers can buy individual tickets for overflights or hire an entire plane for an overflight at a discount Required: 1. Complete the flexible budget performance report abstract for July (Indicate the effect of each variance by selecting variance). Input all amounts as positive values.) for favorable, U for unfavora, Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Revenue and Spending Variances Activity Variances Revenue Expenses Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expense Net operating income O Type here to search