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 ($355.00q) Expenses: Wages and salaries ($3,100 + $87.00q) Fuel ($33.009) Airport fees ($820 + $32.00q) Aircraft depreciation ($9.00q) Office expenses ($220 + $1.00q) Total expenses Net operating income Actual Results Flexible Budget Planning Budget 54 54 52 $ 16,200 $ 19,170 $ 18,460 7,764 7,798 7,624 1,946 1,782 1,716 2,428 2,548 2,484 486 486 468 442 274 272 13,066 12,888 12,564 $ 3,134 $ 6,282 $ 5,896 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 Flexible Budget Performance Report For the Month Ended July 31 Actual Results 54 $ 16,200 Flexible Budget Planning Budget 54 52 $ 19,170 $ 18,460 Revenue Expenses: Wages and salaries 7,764 7,798 7,624 Fuel 1,946 1,782 1,716 Airport fees 2,428 2,548 2,484 Aircraft depreciation 486 486 468 Office expenses 442 274 272 Total expenses 13,066 12,888 12,564 Net operating income $ 3,134 $ 6,282 $ 5,896

1

Goldenrod Company makes artificial flowers and reports the following data for the month: Purchases of materials, on account    $ 51,000Materials requisitions:     Direct materials    42,300 Indirect materials    500Labor incurred (not yet paid):     Direct labor    20,300 Indirect labor    1,340Journalize the entries relating to materials and labor.

[The following information applies to the questions displayed below.]Information on Kwon Manufacturing’s activities for its first month of operations follows:    Purchased $101,700 of raw materials on credit. Materials requisitions show the following materials used for the month.   Job 201 $ 49,900 Job 202 25,300 Total direct materials 75,200 Indirect materials 10,320 Total materials used $ 85,520   Time tickets show the following labor used for the month.   Job 201 $ 40,900 Job 202 14,300 Total direct labor 55,200 Indirect labor 25,900 Total labor used $ 81,100   Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate is 80% of direct materials cost. Transferred Job 201 to Finished Goods Inventory. (1) Sold Job 201 for $168,860 on credit. (2) Record cost of goods sold for Job 201. Incurred the following actual other overhead costs for the month.   Depreciation of factory equipment $ 33,700 Rent on factory building (payable)…