Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($350.00q) Expenses: Wages and salaries ($3,200 + $88.00q) Fuel ($32.00q) Airport fees ($830+ $34.00q) Aircraft depreciation ($10.00q) Office expenses ($230+ $1.00q) Total expenses Net operating income Actual Results 54 $ 16,300 7,916 1,894 2,546 540 452 13,348 $ 2,952 Flexible Planning Budget Budget 52 $ 18,200 54 $ 18,900 7,952 1,728 2,666 540 284 13,170 $5,730 7,776 1,664 2,598 520 282 12,840 $ 5,360 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a discount.

Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($350.00q) Expenses: Wages and salaries ($3,200 + $88.00q) Fuel ($32.00q) Airport fees ($830+ $34.00q) Aircraft depreciation ($10.00q) Office expenses ($230+ $1.00q) Total expenses Net operating income Actual Results 54 $ 16,300 7,916 1,894 2,546 540 452 13,348 $ 2,952 Flexible Planning Budget Budget 52 $ 18,200 54 $ 18,900 7,952 1,728 2,666 540 284 13,170 $5,730 7,776 1,664 2,598 520 282 12,840 $ 5,360 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a discount.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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