TipTop Flight School VALLENICE REBUKE For the Month Ended July 31 ACTUAL Planning RESULTS Budget VALLENCES LESSONS 175 170 REVENUE $ 36 , 640 $ 35 , 700 $ 940 [ Instructor WAGES $ , $40 $ , 500 140 1] Aircraft depreciation 5, 300 5 , 120 FUEL 2 , 410 1 , BID 5. 40 1] Maintenance 2, 030 1 , 890 140 LY Ground Facility EXPENSES 1 , BED 1 , 690 30 P Administration! 3 , 340 3 , 430 Total EXPENSE 24, 380 23, 500 Net Operating INCOME 5 12, 260 $ 12 , 200\fTip Top Flight School Flexible Budget Performance Report For the Month Ended July 31 Actual Flexible Planning* Results Budget Budget LESSONS 175 170 REVENUE $ 36, 640 35, TOO EXPENSES ! Instructor wages 8. 640 3 , 500 Aircraft depreciation 6, 300 FUEL 2, 410 1, 870 Maintenance* 2, 030 1, 890 Ground facility expenses 1, 560 1, 690 Administration 3, 340 3, 430 Total EXPENSE* 24, 380 23, 500 Net operating income* 12, 260