Help Save & Exit Subr Check my work 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 Ylexible Planning Results Budget Budget 57 57 55 Flights (9) $ 16,100 $ 19,30 $ 18,200 Revenue ($340.000) Expensest Wages and salaries (53,800 + $86.009) Puel ($33.009) Airport fees ($820 - $31.000) Aireraft depreciation ($98.009) office expenses ($230 + $1.009) Total expense Net operating income 8,670 8,702 8,530 2,045 1.881 1,815 2,462 2,587 2,525 456 456 440 455 287 285 14. ORA 13.913 13,595 $ 2,012 $ 5.467 $ 5,105 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 (.e., zero variance). Input all amounts as positive values.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Revenue and Spending Flexible Variances Budget 57 Actual Results Planning Budget 55 57 Flights 16 10 points The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane for a overflight at a discount. Required: 1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances, (Indicat 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.) 03:48:50 eBook Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Revenue and Spending Flexible Variances Budget 57 Actual Results Planning Budget Flights 57 Hint 55 $ 16,100 $ 19,380 $ 18.700 Print Revenue Expenses Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expense Net operating income 8,670 2,045 2,462 8.702 1,881 2,587 References 8.530 1,815 2.525 440 456 456 287 455 285 13,595 14,088 2,012 13.913 5,467 $ $ $ 5.105 [Mc Graw Hill