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Check my word ercise 9-4 (Algo) Prepare a Flexible Budget Performance Report (LO9-4) can Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State that explosively erupted in 32. 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 Flights (9) Budget 62 62 60 Revenue ($340.089) $ 16,100 $ 21,080 Expenses: $ 20,400 Wages and salaries ($3,180 + $89.289) 8,580 Fuel ($31.089) 8,618 8, 440 2,090 Airport fees ($870 + $31.00) 1,922 1,860 Aircraft depreciation ($11.089) 2,642 2,792 2,730 682 682 660 Office expenses ($210 + $1.009) 440 272 270 Total expense 14,434 14,286 13,960 Net operating income $ 1,666 $ 6,794 $ 6,440 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane or an overflight at a discount Required: 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 (i.e., zero variance). Input all amounts as positive values.) Actual Results Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 62 $ 21,080 62 16,100 Planning Budget 60 $ 20,400 $ Flights Revenue Expenses Wages and salaries Fuel Airport foes Aircraft depreciation Office expenses Total expense Net operating income 8.580 2.090 2,642 8,618 1.922 2.792 682 272 14,286 6,794 8,440 1.860 2,730 660 682 440 14.434 1.666 270 $ $ 13.960 6,440 $ Check my word ercise 9-4 (Algo) Prepare a Flexible Budget Performance Report (LO9-4) can Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State that explosively erupted in 32. 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 Flights (9) Budget 62 62 60 Revenue ($340.089) $ 16,100 $ 21,080 Expenses: $ 20,400 Wages and salaries ($3,180 + $89.289) 8,580 Fuel ($31.089) 8,618 8, 440 2,090 Airport fees ($870 + $31.00) 1,922 1,860 Aircraft depreciation ($11.089) 2,642 2,792 2,730 682 682 660 Office expenses ($210 + $1.009) 440 272 270 Total expense 14,434 14,286 13,960 Net operating income $ 1,666 $ 6,794 $ 6,440 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane or an overflight at a discount Required: 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 (i.e., zero variance). Input all amounts as positive values.) Actual Results Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 62 $ 21,080 62 16,100 Planning Budget 60 $ 20,400 $ Flights Revenue Expenses Wages and salaries Fuel Airport foes Aircraft depreciation Office expenses Total expense Net operating income 8.580 2.090 2,642 8,618 1.922 2.792 682 272 14,286 6,794 8,440 1.860 2,730 660 682 440 14.434 1.666 270 $ $ 13.960 6,440 $