habrowser Blaunc 67% Chapter 9 Homework Required 4 16.66 points Book Vulcan Flyovers offers scenic overlights of Mount St. Helens, the volcano in Washington State that explosively erupted in 1982. Data concerning the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Flexible Planning Results Budget Budget Flights (el 56 56 54 Revenue (5355.ee) 516,200 519,880 $19,170 Expenses : Wages and salaries ($3,200 + 587.09) 8,038 8,072 7,898 Fuel ($31.00) 1,904 1,736 1,674 Airport fees (5830 + $33.089) 2,543 2,678 2.612 Aircraft depreciation ($9.000) 564 504 486 office expenses ($220 - $1.00) 434 266 Total expense 13,423 13,256 12,934 Net operating income 2.777 $ 6,624 $ 5,236 Hint Print 264 References 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 f.e, zero variance). Input all amounts as positive values.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 56 Actual Results Planning Budget 54 Flights 56 $ 16,200 $ 19,880 $ 19,170 Revenue Expenses Wages and salaries 8,038 8,072 7,898 Mc Graw HII office expenses $210 + $1.ee) Total expense Net operating income 504 504 486 434 266 264 13,423 13,256 12,934 $ 2.777 3 6,624 $ 6,236 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 Hook 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.) ant Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 56 nces Actual Results Flights Planning Budget 54 56 $ 16,200 $ 19,880 $ 19,170 7,898 Revenue Expenses Wages and salaries Fuel Airport foes Aircraft depreciation Office expenses Total expense Net operating income 8,038 1.904 2,543 8,072 1.736 2,678 504 266 504 1.674 2.612 486 264 434 13423 2.777 13,256 8,624 $ 12,934 6,236 $ $