int erences Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($360.00q) Expenses: Wages and salaries ($3,700+ $87.00q) Fuel ($33.00q) Airport fees ($890 +$34.009) Aircraft depreciation ($9.00q) Office expenses ($230 +$1.00q) Total expenses Net operating income Actual Results Flexible Budget 57 57 Planning Budget 55 $ 16,200 $ 20,520 $ 19,800 8,625 8,659 8,485 2,045 1,881 1,815 2,688 2,828 2,760 513 513 495 455 14,326 287 14,168 285 13,840 $ 1,874 $ 6,352 $ 5,960 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. Vulcan Flyovers Flights Revenue Expenses: Wages and salaries Actual Results 57 $ 16,200 8,625 Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Planning Budget 57 55 $ 20,520 $ 19,800 8,659 8,485

int erences Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($360.00q) Expenses: Wages and salaries ($3,700+ $87.00q) Fuel ($33.00q) Airport fees ($890 +$34.009) Aircraft depreciation ($9.00q) Office expenses ($230 +$1.00q) Total expenses Net operating income Actual Results Flexible Budget 57 57 Planning Budget 55 $ 16,200 $ 20,520 $ 19,800 8,625 8,659 8,485 2,045 1,881 1,815 2,688 2,828 2,760 513 513 495 455 14,326 287 14,168 285 13,840 $ 1,874 $ 6,352 $ 5,960 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. Vulcan Flyovers Flights Revenue Expenses: Wages and salaries Actual Results 57 $ 16,200 8,625 Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Planning Budget 57 55 $ 20,520 $ 19,800 8,659 8,485

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter25: Departmental Accounting

Section: Chapter Questions

Problem 9SPA: INCOME STATEMENT WITH DEPART MENTAL DIRECT OPERATING MARGIN AND TOTAL OPERATING INCOME Durwood...

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