SavedHelpSave & Exrers 8-12 & 14 Recap ACheckVulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Washington State that explosively erupted in 1982. Dataconcerning the company's operations in July appear below:Vulcan FlyoversOperating DataFor the Month Ended July 31tsActualFlexible PlanningResultsBudgetBudgeteBook606058Flights (q)$ 16,500 $ 20,700 $ 20,010HintRevenue ($345.00g)Expenses:Wages and salaries ($3,300 + $88.00g)Fuel ($33.00q)Airport fees ($820 + $32.00g)Aircraft depreciation ($9.00g)Office expenses ($240 + $1.00g)Total expense8,5442,1442,5908,5801,9802,7405408,4041,9142,676PrintReferences54052246830029814,286$ 2,214 $ 6,560 $ 6,19614,14013,814Net operating incomeThe company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane for anoverflight at a discount.Required:1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances. (Indicatethe effect of each variance by selecting "E" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Inputall amounts as positive values.)McGrawHillEducation< Prey6 of 15Next >126168.SGBM 3cmd O (5) vendredi-tout-est-per XAssignments: ACCT-2302 x6 ConnectO 10 couples parfaits 4-Ep xb Logineducation.com/ext/map/index.html?_con%=con&external_browser3D0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddl2 & 14 Recap OSavedHelpSaveRequired:1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances. (Indicatethe effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Inputall amounts as positive values.)Vulcan FlyoversFlexible Budget Performance ReportFor the Month Ended July 31FlexibleBudgetPlanningBudgetActual ResultsFlights606058Revenue2416,5002$20,70020,010Expenses:Wages and salaries8,5448,5808,404Fuel2,1441,9801,914Airport fees2,5902,7402,676Aircraft depreciation540540522Office expenses468300298Total expense14,28614,14013,814Net operating income242,214246,5602$6,196< Prey6 of 15Next >6.8.R.

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Description: SavedHelpSave & Exrers 8-12 & 14 Recap ACheckVulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Washington State that explosively erupted in 1982. Dataconcerning the company's operations in July appear below:Vulcan Flyover

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Answered: for Julu that includor reveDue and…

Business

Accounting

for Julu that includor reveDue and spending variances and activity variances. (Indicate

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter13: Budgeting And Standard Costs

Section: Chapter Questions

Problem 13.6.6P: Standards for nonmanufacturing expenses The Radiology Department provides imaging services for...

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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 ActualResults FlexibleBudget PlanningBudget Flights (q) 52 52 50 Revenue ($355.00q) $ 16,300 $ 18,460 $ 17,750 Expenses: Wages and salaries ($3,700 + $90.00q) 8,340 8,380 8,200 Fuel ($32.00q) 1,830 1,664 1,600 Airport fees ($810 + $30.00q) 2,250 2,370 2,310 Aircraft depreciation ($8.00q) 416 416 400 Office expenses ($230 + $1.00q) 450 282 280 Total expense 13,286 13,112 12,790 Net operating income $ 3,014 $ 5,348 $ 4,960 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…
Comprehensive Problem 5Part C: Note: This section is a continuation from Parts A and B of the comprehensive problem. Be sure you have completed Parts A and B before attempting Part C. You may have to refer back to data presented in Parts A and B as well as use answers from those parts when completing this section. Genuine Spice Inc. began operations on January 1 of the current year. The company produces 8-ounce bottles of hand and body lotion called Eternal Beauty. The lotion is sold wholesale in 12-bottle cases for $100 per case. There is a selling commission of $20 per case. The January direct materials, direct labor, and factory overhead costs are as follows: DIRECT MATERIALS Cost Behavior Units per Case Cost per Unit Direct Materials Cost per Case Cream base Variable 100 ozs. $0.02 $2.00 Natural oils Variable 30 ozs. 0.30 9.00 Bottle (8-oz.) Variable 12 bottles 0.50 6.00 $17.00 DIRECT LABOR Department Cost Behavior Time per Case…
Communication Godwin Co. owns three delivery trucks. Details for each truck at the end of the most recent year follow: At the beginning of the year, a hydraulic lift is added to Truck 1 at a cost of 4,500. The addition of the hydraulic lift will allow the company to deliver much larger objects than could previously be delivered. At the beginning of the year, the engine of Truck 2 is overhauled at a cost of 5,000. The engine overhaul will extend the trucks useful life by three years. Write a short memo to Godwins chief financial officer explaining the financial statement effects of the expenditures associated with Trucks 1 and 2.
Comprehensive Problem 5Part B: Note: This section is a continuation from Part A of the comprehensive problem. Be sure you have completed Part A before attempting Part B. You may have to refer back to data presented in Part A and use answers from Part A when completing this section. Genuine Spice Inc. began operations on January 1 of the current year. The company produces eight- ounce bottles of hand and body lotion called Eternal Beauty. The lotion is sold wholesale in 12-bottle cases for $100 per case. There is a selling commission of $20 per case. The January direct materials, direct labor, and factory overhead costs are as follows: DIRECT MATERIALS CostBehavior Unitsper Case Costper Unit Direct MaterialsCost per Case Cream base Variable 100 ozs. $0.02 $2.00 Natural oils Variable 30 ozs. 0.30 9.00 Bottle (8-oz.) Variable 12 bottles 0.50 6.00 $17.00 DIRECT LABOR Department CostBehavior Timeper Case Labor Rateper Hour Direct LaborCost…
11-27 General Foundry’s project crashing data are shown in Table 11.9. Crash this project to 13 weeks using CPM. What is the final time for each activity after crashing? Use excel or do something else.
Please give me the correct answer and solution pls. 10. The current assets of Domino's Gift shop by month for the last year are P500, P400, P300, P400, P500, P550, P600, P650, P700, P800, P950, P1,100. The amount of permanent current assets is a. 500 b. 400 c. 300 d. 1,100
Comprehensive Problem 5 Part B: Note: This section is a continuation from Part A of the comprehensive problem. Be sure you have completed Part A before attempting Part B. You may have to refer back to data presented in Part A and use answers from Part A when completing this section. Genuine Spice Inc. began operations on January 1 of the current year. The company produces eight- ounce bottles of hand and body lotion called Eternal Beauty. The lotion is sold wholesale in 12-bottle cases for $100 per case. There is a selling commission of $20 per case. The January direct materials, direct labor, and factory overhead costs are as follows: DIRECT MATERIALS Cost Behavior Units per Case Cost per Unit Direct Materials Cost per Case Cream base Variable 100 ozs. $0.02 $2.00 Natural oils Variable 30 ozs. 0.30 9.00 Bottle (8-oz.) Variable 12 bottles 0.50 6.00 $17.00 DIRECT LABOR Department Cost Behavior Time per Case Labor Rate per Hour Direct…
May I ask for a solution and explanation to the problem for a better understanding. Thank you! 6. Using Carrot Corp. What is the Average collection period for year 2? a. 20 days b. 22.50 days c. 24 days d. 24.50 days
Standards for nonmanufacturing expenses The Radiology Department provides imaging services for Northeast Washington Medical Center. One important activity in the Radiology Department is transcribing digitally recorded analyses of images into a written report. The manager of the Radiology Department determined that the average transcriptionist could type 800 lines of a report in an hour. The plan for the first week in July called for 64,000 typed lines to be written. The Radiology Department has two transcriptionists. Each transcriptionist is hired from an employment firm (hat requires temporary employees to be hired for a minimum of a 40-hour week. Transcriptionists are paid $18.00 per hour. The manager offered a bonus if the department could type more than 70,000 lines for the week, without overtime. Due to high service demands, the transcriptionists typed more lines in the first week of July than planned. The actual amount of lines typed in (he first week of July was 70,400 lines, without overtime. As a result, the bonus caused the average transcriptionist hourly rate to increase to $20.00 per hour during the first week in July. Instructions Are there any performance-related issues that the labor time and rate variances fail to consider? Explain.