Question

Exercise 9-4 Prepare a Flexible 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 Plyovers Operating Data For the Month Ended July 31 Actual Flexible Planning Results Budget Budget 61 Flights (9) $ 16,100 $ 21,350 $ 20,650 Revenue ($350.000) Expenses: Wages and salaries ($3,500 + $90.000) Fuel ($30.000) Airport fees ($830 + $34.00) Aircraft depreciation ($10.000) Office expenses ($240 + $1.009) Total expense Net operating income 8,950 2.000 2.804 610 469 14.833 8,990 1.830 2.904 610. 301 14.635 $6.715 $ 8,810 1.770 2.836 590 299 14.305 $ 1.267 6,345 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.

correct answers only please :)

Answer 1

	Actual results	Revenue and spending variances		Flexible budget	Activity variances		Planning budget
Flights	61			61			59
Revenue	16100	5250	U	21350	700	F	20650
Expenses:
Wages and salaries	8950	40	F	8990	180	U	8810
Fuel	2000	170	U	1830	60	U	1770
Airpost fees	2804	100	F	2904	68	U	2836
Aircraft depreciation	610	0	None	610	20	U	590
Office expenses	469	168	U	301	2	U	299
Total expense	14833	198	U	14635	330	U	14305
Net operating income	1267	5448	U	6715	370	F	6345