Correct Answer:
TIPTOP FLIGHT SCHOOL |
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Flexible Budget Performance Report |
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For the Month EndeD July 31 |
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Actual Results |
Variance |
Flexible Budget |
Variance |
Planning Budget |
|||
Lessons |
180 |
None |
180 |
5 |
Favorable |
175 |
|
0 |
None |
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Revenue |
$ 41,290.00 |
$ (110.00) |
Unfavorable |
$ 41,400.00 |
$ 1,150.00 |
Favorable |
$ 40,250.00 |
Expenses: |
$ - |
$ - |
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Instructor wages |
$ 10,645.00 |
$ (155.00) |
Favorable |
$ 10,800.00 |
$ 300.00 |
Unfavorable |
$ 10,500.00 |
Aircraft depreciation |
$ 6,840.00 |
$ - |
None |
$ 6,840.00 |
$ 190.00 |
Unfavorable |
$ 6,650.00 |
Feul |
$ 3,090.00 |
$ 570.00 |
Unfavorable |
$ 2,520.00 |
$ 70.00 |
Unfavorable |
$ 2,450.00 |
Maintenance |
$ 2,700.00 |
$ 90.00 |
Unfavorable |
$ 2,610.00 |
$ 55.00 |
Unfavorable |
$ 2,555.00 |
Ground facility expenses |
$ 2,470.00 |
$ (100.00) |
Favorable |
$ 2,570.00 |
$ 20.00 |
Unfavorable |
$ 2,550.00 |
Administration |
$ 3,885.00 |
$ (115.00) |
Favorable |
$ 4,000.00 |
$ 15.00 |
Unfavorable |
$ 3,985.00 |
Total expense |
$ 29,630.00 |
$ 290.00 |
Unfavorable |
$ 29,340.00 |
$ 650.00 |
Unfavorable |
$ 28,690.00 |
Net operating income |
$ 11,660.00 |
$ (400.00) |
Unfavorable |
$ 12,060.00 |
$ 500.00 |
Favorable |
$ 11,560.00 |
End of answer.
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TipTop Flight School offers flying lessons at a small municipal airport. The school's owner and manager...
TipTop Flight School offers flying lessons at a small municipal airport. The school's owner and manager has been attempting to evaluate performance and control costs using a variance report that compares the planning budget to actual results. A recent variance report appears below: TipTop Flight School Variance Report For the Month Ended July 31 Actual Planning Results Budget 180 175 Variances Lessons $ 41,290 $ 40,250 $1,040 F Revenue Expenses: Instructor wages Aircraft depreciation Fuel Maintenance Ground facility expenses Administration...
TipTop Flight School offers flying lessons at a small municipal airport. The school's owner and manager has been attempting to evaluate performance and control costs using a variance report that compares the planning budget to actual results. A recent variance report appears below: TipTop Flight School Variance Report For the Month Ended July 31 Actual Results Planning Budget 125 Variances Lessons 18e $ 41,290 $ 40,250 $1,048 F Expenses: Instructor wages Aircraft depreciation Fuel Maintenance Ground facility expenses Administration Total...
Cl Tiplop Flight School offers flying lessons at a small municipal airport. The school's owner and manager has been attempting to evaluate performance and control costs using a variance report that compares the planning budget to actual results. A recent variance report appears below Tiplop Flight School Variance Report For the Month Ended July 31 Actual Planning Budget Results Variances Lessons 180 175 Revenue $ 41,298 S 40,250 $1,040 F Expenses: Instructor wages Aircraft depreciation 10,645 6,840 3,090 2,700 2,470...
TipTop Flight School offers flying lessons at a small municipal airport. The school’s owner and manager has been attempting to evaluate performance and control costs using a variance report that compares the planning budget to actual results. A recent variance report appears below: TipTop Flight School Variance Report For the Month Ended July 31 Actual Results Planning Budget Variances Lessons 180 175 Revenue $ 41,290 $ 40,250 $ 1,040 F Expenses: Instructor wages 10,645 10,500 145 U Aircraft depreciation 6,840...
Problem 9-22 Critique a Report; Prepare a Performance Report [LO9-1, LO9-2, LO9-3, LO9-4, LO9-6] TipTop Flight School offers flying lessons at a small municipal airport. The school's owner and manager has been attempting to evaluate performance and control costs using a variance report that compares the planning budget to actual results. A recent variance report appears below: TipTop Flight School Variance Report For the Month Ended July 31 Actual Planning Budget Variances Results Lessons 180 175 $ 41,290 $ 40,250...
TipTop Flight School offers flying lessons at a small municipal airport. The school's owner and manager has been attempting to evaluate performance and control costs using a variance report that compares the planning budget to actual results. A recent variance report appears below: TipTop Flight School Variance Report For the Month Ended July 31 Actual Results Planning Budget Variances 215 $ 59,130 $ 58,050 $1,080 F Revenue Expenses: Instructor wages Aircraft depreciation Fuel Maintenance Ground facility expenses Administration Total expense...
TipTop Flight School offers flying lessons at a small municipal airport. The school's owner and manager has been attempting to evaluate performance and control costs using a variance report that compares the planning budget to actual results. A recent variance report appears below: TipTop Flight School Variance Report For the Month Ended July 31 Actual Results 210 Planning Budget 205 Variances Lessons $ 52,230 $ 51,250 $ 980 F Revenue Expenses: Instructor wages Aircraft depreciation Fuel Maintenance Ground facility expenses...
TipTop Flight School offers flying lessons at a small municipal airport. The school's owner and manager has been attempting to evaluate performance and control costs using a variance report that compares the planning budget to actual results. A recent variance report appears below: TipTop Flight School Variance Report For the Month Ended July 31 Actual Planning Results Budget 225 220 Variances Lessons $ 60,400 $ 59,400 $1,000 F Revenue Expenses : Instructor wages Aircraft depreciation Fuel Maintenance Ground facility expenses...
TipTop Flight School offers flying lessons at a small municipal airport. The school's owner and manager has been attempting to evaluate performance and control costs using a variance report that compares the planning budget to actual results. A recent variance report appears below: TipTop Flight School Variance Report For the Month Ended July 31 Actual Planning Results Budget Variances 220 215 Lessons $ 56,890 $ 55,900 $ 990 F Revenue Expenses: Instructor wages Aircraft depreciation Fuel Maintenance Ground facility expenses...
TipTop Flight School offers flying lessons at a small municipal airport. The school's owner and manager has been attempting to evaluate performance and control costs using a variance report that compares the planning budget to actual results. A recent variance report appears below: TipTop Flight School Variance Report For the Month Ended July 31 Actual Planning Results Budget 210205 Variances Lessons $ 54, 370 $ 53,300 $1,070 F Revenue Expenses : Instructor wages Aircraft depreciation Fuel Maintenance Ground facility expenses...