LLU ICUMHUW/LUNCH Help Save & Exit Submit Vulcain Flyovers offers scenic overflights 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 60 60 58 Flights (9) $ 16,300 $ 20,700 $ 20,010 8.404 1,74e Revenue ($345.689) Expenses: Wages and salaries (53,300 - $88.609) Fuel ($30.089) Airport fees ($850 + $34.ee) Aircraft depreciation ($9.ee) Office expenses ($210 + $1.889) Total expense Net operating income 8.544 1.970 2.755 542 2,822 8.589 1,800 2.890 540 27e 24.080 6,62e 438 14.247 2,053 $ 13,756 6,254 $ $ 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 Prev 1 of 9 Next > Saved Help Save & Exit Submit Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Flexible Planning Results Budget Budget be 58 Flights (9) 60 $ 16,300 $ 20,7ee $ 20,010 Revenue ($345.) Expenses: Wages and salaries ($3,300 - $88.009) Fuel ($30.00) Airport fees (5850 - $34.009) Aircraft depreciation ($9.000) Office expenses (5210 + $1.000) Total expense Net operating income 8,544 1,970 2,755 8,588 1,8 2.89e 3. 4 1,740 2,822 522 540 S4 438 270 14,247 14,080 2,053 $6,620 $ 13,756 6,254 $ 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 (le, zero variance). Input all amounts as positive values.) Prev 1 of 9 Next > 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 Flexible Budget Actual Results Planning Budget Flights 60 Revenue $ 16,300 $ 4,400 U $ 20,7005690 F 20.010 Expenses Wages and salaries Fuel Airport fees Aircraft depreciation 1 36 U 170F 1350 8.580 18001 75 F F 990 8,544 1,970 2.755 5401 438 142471 2053 S None Office expenses 168 13756 167 Total expense Net operating income 4567 86201 s
