Homework Help is Here – Start Your Trial Now!
Business
Accounting
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 ($345.00g) Expenses: Wages and salaries ($3,000+ $88.00q) Fuel ($31.00q) Airport fees ($840 + $34.009) Aircraft depreciation ($8.00q) Office expenses ($220 + $1.00q) Total expenses Net operating income Flights Revenue Expenses: Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expenses Net operating income Actual Results $ $ Actual Results 57 16,000 57 $ 16,000 7,980 1,935 2,633 456 445 13,449 2,551 7,980 1,935 2,633 456 445 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a discount. Required: 1. Prepare a flexible budget performance report for July. Note: 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. Flexible Budget 57 $ 19,665 13,449 13,294 $ 2,551 $ 6,371 8,016 1,767 2,778 456 277 $ $ Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 57 19,665 Planning Budget 8,016 1,767 55 $ 18,975 2,778 456 277 13,294 6,371 7,840 1,705 2,710 440 275 12,970 $ 6,005 Planning Budget $ $ 55 18,975 7,840 1,705 2,710 440 275 12,970 6,005

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 ($345.00g) Expenses: Wages and salaries ($3,000+ $88.00q) Fuel ($31.00q) Airport fees ($840 + $34.009) Aircraft depreciation ($8.00q) Office expenses ($220 + $1.00q) Total expenses Net operating income Flights Revenue Expenses: Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expenses Net operating income Actual Results $ $ Actual Results 57 16,000 57 $ 16,000 7,980 1,935 2,633 456 445 13,449 2,551 7,980 1,935 2,633 456 445 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a discount. Required: 1. Prepare a flexible budget performance report for July. Note: 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. Flexible Budget 57 $ 19,665 13,449 13,294 $ 2,551 $ 6,371 8,016 1,767 2,778 456 277 $ $ Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget 57 19,665 Planning Budget 8,016 1,767 55 $ 18,975 2,778 456 277 13,294 6,371 7,840 1,705 2,710 440 275 12,970 $ 6,005 Planning Budget $ $ 55 18,975 7,840 1,705 2,710 440 275 12,970 6,005

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter1: Introduction To Managerial Accounting
Section: Chapter Questions
Problem 5MAD
See similar textbooks
icon
Related questions
Question

Vipul b

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 ($345.00g) Expenses: Wages and salaries ($3,000+ $88.00g) Fuel ($31.00q) Airport fees ($840 + $34.009) Aircraft depreciation ($8.00g) Office expenses ($220 + $1.00g) Total expenses Net operating income Flights Revenue Expenses: Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expenses Net operating income Actual Results $ $ Actual Results 57 16,000 57 $ 16,000 7,980 1,935 2,633 456 445 13,449 2,551 7,980 1,935 2,633 456 445 13,449 $ 2,551 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a discount. Required: 1. Prepare a flexible budget performance report for July. Note: 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. Flexible Budget 57 $ 19,665 ▶ 8,016 1,767 2,778 $ 456 277 13,294 $ 6,371 Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Planning Budget 57 19,665 55 $ 18,975 8,016 1,767 2,778 456 277 13,294 6,371 7,840 1,705 2,710 440 275 12,970 $ 6,005 $ $ Planning Budget 55 18,975 7,840 1,705 2,710 440 275 12,970 6,005
Transcribed Image Text: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 ($345.00g) Expenses: Wages and salaries ($3,000+ $88.00g) Fuel ($31.00q) Airport fees ($840 + $34.009) Aircraft depreciation ($8.00g) Office expenses ($220 + $1.00g) Total expenses Net operating income Flights Revenue Expenses: Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expenses Net operating income Actual Results $ $ Actual Results 57 16,000 57 $ 16,000 7,980 1,935 2,633 456 445 13,449 2,551 7,980 1,935 2,633 456 445 13,449 $ 2,551 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a discount. Required: 1. Prepare a flexible budget performance report for July. Note: 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. Flexible Budget 57 $ 19,665 ▶ 8,016 1,767 2,778 $ 456 277 13,294 $ 6,371 Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Planning Budget 57 19,665 55 $ 18,975 8,016 1,767 2,778 456 277 13,294 6,371 7,840 1,705 2,710 440 275 12,970 $ 6,005 $ $ Planning Budget 55 18,975 7,840 1,705 2,710 440 275 12,970 6,005
Expert Solution
steps

Step by step

Solved in 3 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting for Impairment of Assets
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS