Vulcan Flyovers offers scenic overflights of Mount St. 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 61 Flights (9) Flexible Planning Budget Budget 61 59 $ 16,300 $ 21.045 20.355 Revenue ($345.000) Expenses: Wages and salaries (53,300 + $91.000) Fuel ($30.089) Airport fees (5830 + $31.00) Aircraft depreciation ($9.809) office expenses ($220 + $1.00) Total expense Net operating Income 8,809 8,851 8,669 2,000 1,830 1,770 2,616 2,721 2,659 549 549 531 449 281 14,423 14,232 13,90s $ 1,8775 6,813 5 6,447 279 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.) 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 Actual Results Planning Budget 59 Flights 61 61 $ 16,300 $ 21045 20355 Revenue Expenses , Wages and salaries Fuel Airport fees Alecraft depreciation Office expenses Total expense Net operating income 8,809 2000 2,616 549 449 14.423 1,877 8,851 1.830 2721 549 8,669 1.770 2.659 531 279 13.900 6447 281 14,232 6,813 $ $ Pro 1 of 4 Next > o RE were to search