FINAL EXAM - PROBLEMS i Saved Help Save & Exit Submit Check my work 6 Exercise 9-4 (Algo) Prepare a Flexible Budget Performance Report [LUy-4] 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. 10 points Vulcan Flyovers Operating Data For the Month Ended July 31 eBook Actual Flexible Planning Results Budget Budget 62 62 Hint Flights (q) 60 Revenue ($345.00q) $ 16, 200 $ 21, 390 $ 20,700 Print Expenses : Wages and salaries ($3,500 + $92.00q) 9,160 9, 204 9,020 References Fuel ($30.00q) 2,030 1, 860 1,800 Airport fees ($830 + $33.00q) 2, 746 2, 876 2, 810 Aircraft depreciation ($8.00q) 496 496 480 Office expenses ($200 + $1.00q) 430 262 260 Total expense 14, 862 14, 698 14, 370 Net operating income $ 1,338 $ 6, 692 $ 6,330 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. Mc Graw HillFINAL EXAM - PROBLEMS i Saved Help Save & Exit Submit Check my work 6 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: 10 1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances. points (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.) eBook Vulcan Flyovers Hint Flexible Budget Performance Report Print For the Month Ended July 31 References Actual Results Flexible Planning Budget Budget Flights 62 62 60 Revenue $ 16,200 21,390 S 20,700 Expenses: Wages and salaries 9,160 9.204 9,020 Fuel 2,030 1,860 1,800 Airport fees 2,746 2.876 2.810 Mc Graw HillFINAL EXAM - PROBLEMS i Saved Help Save & Exit Submit Check my work 6 Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 10 Flexible points Actual Results Planning Budget Budget Flights 62 62 60 eBook Revenue $ 16,200 21,390 $ 20,700 Expenses: Hint Wages and salaries 9,160 9,204 9,020 Print Fuel 2,030 1,860 1,800 References Airport fees 2,746 2,876 2,810 Aircraft depreciation 496 496 480 Office expenses 430 262 260 Total expense 14,862 14,698 14,370 Net operating income $ 1,338 S 6,692 $ 6,330 Mc Graw Hill