TipTop Flight School Variance Report For the Month Ended July 31 Actual Planning Results Budget Variances Lessons 175 170 Revenue $ 36 , 640 $ 35 , 700 $ 940 F Expenses : Instructor wages 8, 640 8 , 500 140 U Aircraft depreciation 6 , 300 6, 120 180 U Fuel 2 , 410 1 , 870 540 U Maintenance 2 , 030 1 , 890 140 U Ground facility expenses 1, 660 1 , 690 30 F Administration 3, 340 3, 430 90 F Total expense 24 , 380 23 , 500 880 U Net operating income $ 12 ,260 $ 12 ,200 $ 60 FCOOL FORMULES REVENUE 52109 Instructor WAGES $509 Aircraft depreciation 5369 FUEL $110 HaIntenand[ $530* 560 Ground CECILILY EXPENSES $ 1 , 350 DES + Administration! $3, 260 + 519Tip Top Flight School Flexible Budget Performance Report For the Month Ended July 31 Actual Flexible Results Planning Budget Budget Lessons 175 170 Revenue $ 36,640 $ 35,700 Expenses: Instructor wages $ 8,640 F C 8,500 Aircraft depreciation 6,300 None 6,120 Fuel 2,410 C" 1,870 Maintenance 2,030 1,890 Ground facility expenses 1,660 T CCC CCC 1,690 LL LL Administration 3,340 3,430 Total expense 24,380 23,500 Net operating income $ 12,260 $ 12,200