Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State that explosively...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
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 Flights (9) Revenue ($350.009) Expenses: Wages and salaries ($3,400 + $87.689) Fuel ($33.009) Airport fees ($860 + $33.009) Aircraft depreciation ($10.009) office expenses ($210 + $1.009) Total expense Net operating income Actual Results Flexible Budget Planning Budget 57 57 55 $ 16,000 $ 19,950 $ 19,250 8,325 8,359 8,185 2,845 1,881 1,815 2,636 2,741 2,675 570 570 550 435 14,011 267 13,818 265 13,490 $ 1,989 $ 6,132 $ 5,760 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 (l.e., zero variance). Input all amounts as positive values.) Flights Revenue Actual Results 57 S 16,000 Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Planning Budget 57 55 S 19,950 S 19,250 Expenses: Wages and salaries 8,325 Fuel 2,045 Airport fees 2,636 Aircraft depreciation 570 8,359 1,881 2,741 570 8,185 1,815 2,675 550 Office expenses 435 267 Total expense 14,011 13,818 265 13,490 Net operating income S 1,989 S 6,132 $ 5,760 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 Flights (9) Revenue ($350.009) Expenses: Wages and salaries ($3,400 + $87.689) Fuel ($33.009) Airport fees ($860 + $33.009) Aircraft depreciation ($10.009) office expenses ($210 + $1.009) Total expense Net operating income Actual Results Flexible Budget Planning Budget 57 57 55 $ 16,000 $ 19,950 $ 19,250 8,325 8,359 8,185 2,845 1,881 1,815 2,636 2,741 2,675 570 570 550 435 14,011 267 13,818 265 13,490 $ 1,989 $ 6,132 $ 5,760 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 (l.e., zero variance). Input all amounts as positive values.) Flights Revenue Actual Results 57 S 16,000 Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Planning Budget 57 55 S 19,950 S 19,250 Expenses: Wages and salaries 8,325 Fuel 2,045 Airport fees 2,636 Aircraft depreciation 570 8,359 1,881 2,741 570 8,185 1,815 2,675 550 Office expenses 435 267 Total expense 14,011 13,818 265 13,490 Net operating income S 1,989 S 6,132 $ 5,760
Expert Answer:
Related Book For
Managerial Accounting
ISBN: 978-0697789938
13th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
Posted Date:
Students also viewed these accounting questions
-
sample recipe of a pork that used one or two the following preparation techniques. Barding Trimming Frenching Portioning Wet and dry marinating Mincing Rolling Tenderising Tying Skewering. You must...
-
A waiting - line system that meets the assumptions of M / M / 1 has \ lambda = 1 , \ mu = 4 . For this system, what is the probability of fewer than two units in the system?
-
Briefly define each of the following terms. a. Sustainable competitive advantage b. Deliberate strategy c. Emergent strategy d. Realized strategy e. Abandoned strategy 2. A company's strategy...
-
The root cause of underdevelopment and environmental degradation is the overdevelopment of a handful of rich nations. Discuss.
-
Michael Eisner, former CEO at the Walt Disney Corporation, wanted to stimulate conflict inside his firm. But he wanted to minimize conflict with outside partiesagents, contractors, unions, etcetera....
-
Let C be a smooth arc and gk : C R be continuous for n N. a) If gk g uniformly on C, prove that C gk ds C g ds as k . b) Suppose that {gk} is pointwise monotone and that gk g pointwise on C as...
-
The opportunities for business consulting in the areas of corporate planning, budgeting, and strategy are almost limitless as new, more powerful software continues to be developed. This exercise...
-
a. Prepare a cross tabulation of the data on Industry (rows) and Brand Revenue ($ billions). Use class intervals of 25 starting at 0 for Brand Revenue ($ billions). b. Prepare a frequency...
-
Xavi sells seashore paintings. His annual Fixed Costs are $1,000 and the Variable Costs are $10 per painting. If Xavi sells his paintings for $15, what is the annual revenue required to breakeven?
-
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash...
-
Who are the Sumerians? What do we know about them? While reading Gilgamesh you should be able to draw a mental sketch of this early civilization and its people. Isolate instances in the text when the...
-
A particular security's default risk premium is 3 percent. For all securities, the inflation risk premium is 2.75 percent and the real risk-free rate is 2.90 percent. The security's liquidity risk...
-
Our project on lenskart : https://www.lenskart.com/ The Project: EVERY project must have ONE home or landing page... You must also create TWO working functions PER TEAM MEMBER... So a group of ONE...
-
Lansing Camera Company has received a special order for photographic equipment that it does not normally produce. The company has spare capacity and the order could be manufactured without reducing...
-
Find the equivalent resistance and current by considering the following circuit.(7) R5 666 Q + 369 V R3 320 www. R1 | 369 ww R2 47 R4 456 Q R8 145 R7 14 Q ww ww R9 www R10 110145 Q ww ww R6 66 02
-
What are the problems in customer satisfaction at a Five-star Hotel? and How the Five-Star reacts to those problems in detail? *provide citation
-
PC Contractors, Inc., was an excavating business in Kansas City, Missouri. Union Bank made loans to PC, subject to a perfected security interest in its equipment and other assets, including...
-
Sprague Company manufactures basketballs. Materials are added at the begin- ning of the production process and conversion costs are incurred uniformly. Production and cost data for the month of July...
-
(Target Costing) Driftwood Industries currently sells coffee tables for \($450\) each. It has costs per table of \($330.\) A new competitor is opening in the same mall as Driftwood and offers a...
-
Elite Company has several processing departments. Costs charged to the Assembly Department for November 2002 totaled $2,129,000 as follows. Production records show that 30,000 units were in beginning...
Study smarter with the SolutionInn App