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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 Actual Results Flexible Budget Planning Budget Flights (q) Revenue ($345.00g) Expenses: Wages and salaries ($3,000 + $91.00g) Fuel ($33.00q) Airport fees ($810 +$35.00g) Aircraft depreciation ($9.00g) office expenses ($250 +$1.00g) Total expense Net operating income 56 56 54 $ 16,200 $ 19,320 $ 18,630 8,054 8,096 7,914 2,012 1,848 1,782 2,625 2,770 2,700 504 504 486 474 13,669 306 304 13,524 13,186 $ 2,531 $ 5,796 $ 5,444 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane for In 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.) Actual Results Flights Revenue 56 $ 16,200 Expenses: Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 311 Flexible Budget Planning Budget 56 54 $ 19,320 $ 18,630

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 Actual Results Flexible Budget Planning Budget Flights (q) Revenue ($345.00g) Expenses: Wages and salaries ($3,000 + $91.00g) Fuel ($33.00q) Airport fees ($810 +$35.00g) Aircraft depreciation ($9.00g) office expenses ($250 +$1.00g) Total expense Net operating income 56 56 54 $ 16,200 $ 19,320 $ 18,630 8,054 8,096 7,914 2,012 1,848 1,782 2,625 2,770 2,700 504 504 486 474 13,669 306 304 13,524 13,186 $ 2,531 $ 5,796 $ 5,444 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane for In 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.) Actual Results Flights Revenue 56 $ 16,200 Expenses: Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 311 Flexible Budget Planning Budget 56 54 $ 19,320 $ 18,630

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter1: Introduction To Managerial Accounting
Section: Chapter Questions
Problem 6BE: Jakes Cabins is a small motel chain with locations near the national parks of Utah, Wyoming, and...
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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 Actual Results Flexible Budget Planning Budget Flights (q) Revenue ($345.00g) Expenses: Wages and salaries ($3,000 + $91.00g) Fuel ($33.00q) Airport fees ($810 +$35.00g) Aircraft depreciation ($9.00g) office expenses ($250 +$1.00g) Total expense Net operating income 56 56 54 $ 16,200 $ 19,320 $ 18,630 8,054 8,096 7,914 2,012 1,848 1,782 2,625 2,770 2,700 504 504 486 474 13,669 306 304 13,524 13,186 $ 2,531 $ 5,796 $ 5,444 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane for In 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.) Actual Results Flights Revenue 56 $ 16,200 Expenses: Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 311 Flexible Budget Planning Budget 56 54 $ 19,320 $ 18,630
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 Actual Results Flexible Budget Planning Budget Flights (q) Revenue ($345.00g) Expenses: Wages and salaries ($3,000 + $91.00g) Fuel ($33.00q) Airport fees ($810 +$35.00g) Aircraft depreciation ($9.00g) office expenses ($250 +$1.00g) Total expense Net operating income 56 56 54 $ 16,200 $ 19,320 $ 18,630 8,054 8,096 7,914 2,012 1,848 1,782 2,625 2,770 2,700 504 504 486 474 13,669 306 304 13,524 13,186 $ 2,531 $ 5,796 $ 5,444 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane for In 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.) Actual Results Flights Revenue 56 $ 16,200 Expenses: Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 311 Flexible Budget Planning Budget 56 54 $ 19,320 $ 18,630
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