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: Flights (q) Revenue ($360.00g) Expenses: Wages and salaries ($3,800+ $89.00g) Fuel ($30.00g) Airport fees ($880 + $32.00g) Aircraft depreciation ($9.00g) Office expenses ($220 + $1.00g) Total expense Net operating income Vulcan Flyovers Operating Data For the Month Ended July 31 Flights Revenue Actual Results $ Actual Results: 52 52 $ 16,200 16,200 8,390 1,730 2,419 468 440 13,447 $ 2,753 Flexible Budget 52 $ 18,720 8,428 1,560 2,544 468 272 13,272 $ 5,448 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.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Planning Budget 50 $ 18,000 52 18,720 8,250 1,500 2,480 450 270 12,950 $ 5,050 $ Planning Budget 50 18,000

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: The company measures its activity in terms of flights. Customers can buy individual tickets for overfights 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.) 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.)