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 Budget Planning Budget Flights (q) 57 57 55 Revenue ($350.00q) $ 16,200 $ 19,950 $ 19,250 Expenses: Wages and salaries ($3,200 + $88.00q) 8,180 8,216 8,040 Fuel ($34.00q) 2,100 1,938 1,870 Airport fees ($840 + $32.00q) 2,539 2,664 2,600 Aircraft depreciation ($10.00q) 570 570 550 Office expenses ($210 + $1.00q) 435 267 265 Total expense 13,824 13,655 13,325 Net operating income $ 2,376 $ 6,295 $ 5,925 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 each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
Vulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Washington State that explosively...
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 Budget Planning Budget Flights (q) 57 57 55 Revenue ($345.00q) $ 16,000 $ 19,665 $ 18,975 Expenses: Wages and salaries ($3,800 + $85.00q) 8,615 8,645 8,475 Fuel ($31.00q) 1,935 1,767 1,705 Airport fees ($880 + $34.00q) 2,678 2,818 2,750...
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 Budget Planning Budget Flights (q) 60 60 58 Revenue ($355.00q) $ 16,100 $ 21,300 $ 20,590 Expenses: Wages and salaries ($3,600 + $90.00q) 8,960 9,000 8,820 Fuel ($31.00q) 2,028 1,860 1,798 Airport fees ($870 + $34.00q) 2,810 2,910 2,842...
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 57 57 55 Flights (9) $ 16,200 $ 19,950 $ 19,250 O AO Revenue ($350.00q) Expenses: Wages and salaries ($3,300 + $91.00g) Fuel ($33.009) Airport fees ($830 + $31.009) Aircraft depreciation ($10.00q). Office expenses ($220 +...
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 Budget Planning Budget Flights (q) 53 53 51 Revenue ($345.00q) $ 16,200 $ 18,285 $ 17,595 Expenses: Wages and salaries ($3,300 + $91.00q) 8,081 8,123 7,941 Fuel ($30.00q) 1,760 1,590 1,530 Airport fees ($820 + $32.00q) 2,386 2,516 2,452...
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 Budget Planning Budget Flights (q) 55 55 53 Revenue ($340.00q) $ 16,300 $ 18,700 $ 18,020 Expenses: Wages and salaries ($3,500 + $89.00q) 8,357 8,395 8,217 Fuel ($31.00q) 1,873 1,705 1,643 Airport fees ($800 + $32.00q) 2,410 2,560 2,496...
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 Budget Planning Budget Flights (q) 57 57 55 Revenue ($355.00q) $ 16,400 $ 20,235 $ 19,525 Expenses: Wages and salaries ($3,400 + $87.00q) 8,325 8,359 8,185 Fuel ($31.00q) 1,935 1,767 1,705 Airport fees ($850 + $32.00q) 2,539 2,674...
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 Budget Planning Budget Flights (q) 59 59 57 Revenue ($355.00q) $ 16,300 $ 20,945 $ 20,235 Expenses: Wages and salaries ($3,400 + $86.00q) 8,442 8,474 8,302 Fuel ($33.00q) 2,111 1,947 1,881 Airport fees ($850 + $34.00q) 2,746 2,856 2,788...
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 5757 Flights (9) $ 16,300 $ 19,380 $ 18,700 Revenue ($340.009) Expenses : Wages and salaries ($3,700 + $89.00) Fuel ($34.009) Airport fees ($800 + $31.009) Aircraft depreciation ($8.00) Office expenses ($230 + $1.00) Total expense...
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 Budget Planning Budget Flights (q) 61 61 59 Revenue ($345.00q) $ 16,400 $ 21,045 $ 20,355 Expenses: Wages and salaries ($3,700 + $86.00q) 8,914 8,946 8,774 Fuel ($34.00q) 2,236 2,074 2,006 Airport fees ($850 + $34.00q) 2,819 2,924 2,856...
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 Budget Planning Budget Flights (q) 61 61 59 Revenue ($355.00q) $ 16,100 $ 21,655 $ 20,945 Expenses: Wages and salaries ($3,400 + $85.00q) 8,555 8,585 8,415 Fuel ($30.00q) 2,000 1,830 1,770 Airport fees ($800 + $34.00q) 2,744 2,874 2,806...