Exercise 9-4 (Algo) Prepare a Flexible Budget Performance Report [LO9-4] Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($350.00q) Expenses: Wages and salaries ($3,500+ $90.00q) Fuel ($30.00q) Airport fees ($860 + $30.00q) Aircraft depreciation ($11.00q) Office expenses ($230 + $1.00q) Total expenses Net operating income Actual Results 59 $ 16,300 8,770 1,940 2,530 649 457 14,346 $ 1,954 Flexible Budget 59 96 $ 20,650 8,810 1,770 2,630 649 289 14,148 $ 6,502 Planning Budget 57 $ 19,950 8,630 1,710 2,570 627 287 13,824 $ 6,126 4 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a discount.

Exercise 9-4 (Algo) Prepare a Flexible Budget Performance Report [LO9-4] Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear beiow: The company measures its activity in terms of flights. Customers can buy individual tickets for overfights or hire an entire plane at a discount. 1. Prepare a flexible budget performance report for July Note: 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