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Exercise 9-4 (Algo) Prepare a Flexible Budget Performance Report [LO9-4) Vulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Washington State that

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Exercise 9-4 (Algo) Prepare a Flexible Budget Performance Report [LO9-4) Vulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Washington State that explosivety erupted in 1982 Data concerning the company's operations in July appear below. Vulean Flyover Operating Data For the Month Ended July 31 Actual Flexible planning Results Budget Budget Flights (9) 60 60 SE Revenue ($350.009) $ 16,500 $ 21,000 $20,300 Expenses Wages and salaries ($3,100 + $89.009) 8,402 8,460 3.262 Fuel 531.0091 2,028 1.860 1.798 Alrport Lees (5830 + 532.009) 2,640 2,750 2,686 Aircraft depreciation ($10.0001 600 600 380 office expen(230 + $1.000) 458 290 288 Total expense 16123 set operating income 52,372 5 7.060 $ 6.686 The company measures its activity in terms of flights, Customers can buy individual tickets for overflights or hird 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 (1.o., zero variance). Input all amounts as positive values.) Vulcan Flyover Flexible Budget Performance Report For the Month Ended July 31 Flouble Budget 00 Actual Results Planning Budget 50 Fights 00 Roveno 5 16,500 5 21,000 S 20.300 Airerart depreciation (510.00 office expenses ($230 + $1.009) Total expense Net operating income 600 500 580 458 290 288 14,128 13.940 13,614 $ 2,372 $ 7.060 $ 6,686 The company measures its activity in terms of flights. Customers can buy Individual tickets for overflights or hire an entire plane for an overfilght 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 (.e., zero variance). Input all amounts as positive values.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July Flexible Budget Actual Results Planning Budget 58 80 Flights 50 5 $ $ 20,300 16,500 21.000 8,402 2,020 8.282 1.798 Revenue Expenses Wages and salaries Fuel Airport fees Aircraft dopreciation Office expenses Total expense Not operating income 2,540 600 450 14,128 2.372 8.440 1,800 2.750 600 200 13,940 7.000 2.688 380 200 15,614 5.600 S $

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