Please explain step by step. Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6659bbc8cd842_8086659bbc858672.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6659bbc9bf65d_8096659bbc960635.jpg)
Transcribed Image Text:
Please explain step by step. 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: Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Results Flexible Budget Planning Budget Flights (q) 48 48 50 Revenue ($320.00q) $ 13,650 $ 15,360 $ 16,000 Expenses: Wages and salaries ($4,000 + $82.00q) 8,430 7,936 8,100 Fuel ($23.00q) 1,260 1,104 1,150 Airport fees ($650 + $38.00q) 2,350 2,474 2,550 Aircraft depreciation ($7.00q) 336 336 350 Office expenses ($190 + $2.00q) 460 286 Total expense 12,836 12,136 290 12,440 Net operating income $ 814 $ 3,224 $ 3,560 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 (i.e., zero variance). Input all amounts as positive values.) Please explain step by step. 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: Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Results Flexible Budget Planning Budget Flights (q) 48 48 50 Revenue ($320.00q) $ 13,650 $ 15,360 $ 16,000 Expenses: Wages and salaries ($4,000 + $82.00q) 8,430 7,936 8,100 Fuel ($23.00q) 1,260 1,104 1,150 Airport fees ($650 + $38.00q) 2,350 2,474 2,550 Aircraft depreciation ($7.00q) 336 336 350 Office expenses ($190 + $2.00q) 460 286 Total expense 12,836 12,136 290 12,440 Net operating income $ 814 $ 3,224 $ 3,560 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 (i.e., zero variance). Input all amounts as positive values.)
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Tacoma Narrows Bridge The percent distribution of the number of occupants in vehicles crossing the Tacoma Narrows Bridge in Washington is shown in the pie chart. Find each probability. (Source:...
-
At the beginning of the year, Ted Frey decided to prepare a cash budget for the year, based upon anticipated cash receipts and payments. The estimates in the budget represent a best guess. The budget...
-
Becket Corporation's accountant has prepared the following balance sheet as of November 10, 2017, the date on which the company is to release a plan for reorganizing operations under Chapter 11 of...
-
Sloan produces electronic calculators, Suppose Sloan's standard cost per calculator is $27 for direct materials and $67 for conversion costs. The following data apply to August activities: (Click the...
-
How do emergent properties within teams, such as synergy and collective intelligence, manifest and influence team performance, and what factors contribute to their development and sustenance?
-
Think about your workplace, organization, or industry; if you are not currently working, think about previous employment or a job that you are aiming for. The broader your perspective, the more...
-
Choose any global organization that successfully undertook a strategic transformation to adapt to changing market dynamics and sustain its competitive advantage. Examine the company's challenges,...
-
In examining C&C Sports through the lens of a SWOT analysis, several key factors come to light. The strengths of the company are evident in its established brand reputation and a loyal customer base...
-
A perfectly insulated container initially contains 0.2 kg of ice at -15 C. Now we add water at 30 C, but only the minimum amount needed to barely melt all the ice. Find the net entropy change of the...
-
Provide the stakeholders of the RBC (Royal Bank of Canada. Describe what the stakeholders expect from the RBC, as well as how the RBC is going to meet the needs of the stakeholders
-
Decentralization, responsibility centres. Quinn Corporation manufactures and sells lighting products. Quinns sales and marketing divisions are organized along product lines wall sconces, recessed...
-
Payback, net present value, relevant costs, sensitivity analysis. The city ofEdmonton has been operating a cafeteria for its employees, but it is considering converting it to a completely automated...
-
Relevant costs, capital budgeting. (N. Melumad, S. Reichelstein, adapted) The Special Products Division (SPD) of Plastics Unlimited makes specially designed night goggles. Its main production machine...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App