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 Flexible Planning Results Budget Budget Flights (q) 56 56 54 Revenue ($355.00g) Expenses: wages and salaries ($3,500 + $89.00g) Fuel ($34.00q) Airport fees ($880 + $33.8eq) Aircraft depreciation ($9.00g) Office expenses ($220 + $1.00g) Total expense $ 16,400 $ 19,880 $ 19,170 8,446 2,066 8, 484 1,904 2,728 8, 306 1,836 2,662 2,613 584 504 486 444 276 274 14,873 $ 2,327 $ 5,984 $ 5,606 13,896 13,564 Net operating income 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 cach varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (I.e., zero varlance). Input all amounts as positive values.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Actual Results Planning Budget Flights 56 56 54 Revenue 16.400 19,880 19,170 Expenses: Wages and salaries 8,446 8,484 8,306 Fuel 2,086 1,904 1,836 Airport fees 2,613 2,728 2,662 Airoraft depreciation 504 504 486 Office expenses 444 276 274 Total expense 14,073 13,896 13,564 Net operating income 2,327 5,984 5,606
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 Flexible Planning Results Budget Budget Flights (q) 56 56 54 Revenue ($355.00g) Expenses: wages and salaries ($3,500 + $89.00g) Fuel ($34.00q) Airport fees ($880 + $33.8eq) Aircraft depreciation ($9.00g) Office expenses ($220 + $1.00g) Total expense $ 16,400 $ 19,880 $ 19,170 8,446 2,066 8, 484 1,904 2,728 8, 306 1,836 2,662 2,613 584 504 486 444 276 274 14,873 $ 2,327 $ 5,984 $ 5,606 13,896 13,564 Net operating income 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 cach varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (I.e., zero varlance). Input all amounts as positive values.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Actual Results Planning Budget Flights 56 56 54 Revenue 16.400 19,880 19,170 Expenses: Wages and salaries 8,446 8,484 8,306 Fuel 2,086 1,904 1,836 Airport fees 2,613 2,728 2,662 Airoraft depreciation 504 504 486 Office expenses 444 276 274 Total expense 14,073 13,896 13,564 Net operating income 2,327 5,984 5,606
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter7: The Master Budget And Flexible Budgeting
Section: Chapter Questions
Problem 8P: Preparing a performance report Use the flexible budget prepared in P7-6 for the 29,000-unit level of...
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![Exercise 9-4 (Algo) Prepare a Flexlble Budget Performance Report [L09-4]
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
Flexible Planning
Budget
54
Budget
Flights (q)
56
56
$ 16,400 $ 19,880 $ 19,170
Revenue ($355.00g)
Expenses:
wages and salaries ($3,500 + $89.009)
Fuel ($34.08q)
Airport fees ($880 + $33.08g)
Aircraft depreciation ($9.88q)
Office expenses ($220 + $1.889)
Total expense
8,446
৪,484
8, 306
2,066
1,904
1,836
2,613
2,728
2,662
504
504
486
444
276
274
14,073
13,896
|13,564
Net operating income
$ 2,327 $ 5,984 $ 5,506
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.
Requlred:
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 varlance). Input
all amounts as positive values.)
Vulcan Flyovers
Flexible Budget Performance Report
For the Month Ended July 31
Flexible
Budget
Actual Results
Planning
Budget
Flights
56
56
54
Revenue
16,400
19,880
19.170
Expenses:
Wages and salaries
8,446
8,484
8,306
Fuel
2,086
1.904
1,836
Airport fees
2,613
2,728
2,662
Aircraft depreciation
504
504
486
Office expenses
444
276
274
Total expense
14,073
13,896
13,564
Net operating income
IS
2,327
5,984
5,606](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa204cf79-6df4-4f25-af61-d4fca6ca5b9e%2F6e7b2b19-1c93-46f2-9c75-d606e4d30f6a%2Fypboes_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Exercise 9-4 (Algo) Prepare a Flexlble Budget Performance Report [L09-4]
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
Flexible Planning
Budget
54
Budget
Flights (q)
56
56
$ 16,400 $ 19,880 $ 19,170
Revenue ($355.00g)
Expenses:
wages and salaries ($3,500 + $89.009)
Fuel ($34.08q)
Airport fees ($880 + $33.08g)
Aircraft depreciation ($9.88q)
Office expenses ($220 + $1.889)
Total expense
8,446
৪,484
8, 306
2,066
1,904
1,836
2,613
2,728
2,662
504
504
486
444
276
274
14,073
13,896
|13,564
Net operating income
$ 2,327 $ 5,984 $ 5,506
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.
Requlred:
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 varlance). Input
all amounts as positive values.)
Vulcan Flyovers
Flexible Budget Performance Report
For the Month Ended July 31
Flexible
Budget
Actual Results
Planning
Budget
Flights
56
56
54
Revenue
16,400
19,880
19.170
Expenses:
Wages and salaries
8,446
8,484
8,306
Fuel
2,086
1.904
1,836
Airport fees
2,613
2,728
2,662
Aircraft depreciation
504
504
486
Office expenses
444
276
274
Total expense
14,073
13,896
13,564
Net operating income
IS
2,327
5,984
5,606
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