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 Actual Results Flexible Budget Planning Budget Flights (q) Revenue ($355.00q) Expenses: Wages and salaries ($3,600 + $87.00g) Fuel ($34.00q) Airport fees ($800 +$32.00g) Aircraft depreciation ($9.009) Office expenses ($240 +$1.00q) Total expenses Net operating income 54 54 52 $ 16,300 $ 19,170 $ 18,460 8,264 8,298 8,124 1,998 1,836 1,768 2,378 2,528 2,464 486 486 468 462 13,588 294 13,442 292 13,116 $ 2,712 $ 5,728 $ 5,344 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 (l.e., zero variance). Input all amounts as positive values. Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Actual Results Flights Revenue Expenses. 54 $ 16.300 Flexible Budget Planning Budget 54 52 $ 19.170 $ 18,460

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 Actual Results Flexible Budget Planning Budget Flights (q) Revenue ($355.00q) Expenses: Wages and salaries ($3,600 + $87.00g) Fuel ($34.00q) Airport fees ($800 +$32.00g) Aircraft depreciation ($9.009) Office expenses ($240 +$1.00q) Total expenses Net operating income 54 54 52 $ 16,300 $ 19,170 $ 18,460 8,264 8,298 8,124 1,998 1,836 1,768 2,378 2,528 2,464 486 486 468 462 13,588 294 13,442 292 13,116 $ 2,712 $ 5,728 $ 5,344 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 (l.e., zero variance). Input all amounts as positive values. Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Actual Results Flights Revenue Expenses. 54 $ 16.300 Flexible Budget Planning Budget 54 52 $ 19.170 $ 18,460

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 6BE: Jakes Cabins is a small motel chain with locations near the national parks of Utah, Wyoming, and...

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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 ActualResults FlexibleBudget PlanningBudget Flights (q) 52 52 50 Revenue ($355.00q) $ 16,300 $ 18,460 $ 17,750 Expenses: Wages and salaries ($3,700 + $90.00q) 8,340 8,380 8,200 Fuel ($32.00q) 1,830 1,664 1,600 Airport fees ($810 + $30.00q) 2,250 2,370 2,310 Aircraft depreciation ($8.00q) 416 416 400 Office expenses ($230 + $1.00q) 450 282 280 Total expense 13,286 13,112 12,790 Net operating income $ 3,014 $ 5,348 $ 4,960 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…
A company uses charging rates to allocate service department costs to the using departments. The accountant compiled the following information on one of the service departments: If Department K plans to use 1,350 hours of the service departments service in the coming year, how much of the service departments cost is allocated to Department K? a. 3,375 b. 27,300 c. 26,325 d. 23,950
The accounting department of a large limousine company is analyzing the costs of its services. The cost data and level of activity for the past 16 months follow. Month Special Analyses CustomerAccounts PaychecksProcessed AccountingService Costs 1 2 325 1,029 $ 63,800 2 4 310 993 68,900 3 2 302 1,268 64,000 4 1 213 1,028 61,300 5 2 222 984 61,600 6 0 214 712 50,800 7 1 131 762 51,020 8 1 123 739 54,300 9 0 115 708 50,500 10 2 296 1,232 64,800 11 2 213 978 58,000 12 1 222 929 57,500 13 2 217 1,059 62,200 14 2 132 942 54,900 15 4 300 1,299 71,530 16 4 315 1,283 64,800 Totals 30 3,650 15,945 $ 959,950 In…
The following information shows the occupancy days and electrical costs of of hotel 'Violet sky'. Hotel business is highly seasonal. The Occupancy Days and Electrical costs are as follows: Month Guest Occupancy Days Maintenance costs January 11,736 $40,127 February 11,904 $40,207 March 12,356 $50,083 April 1,960 $20,857 May 1,360 $10,871 June 1,744 $20,696 July 2,108 $40,670 August 12,406 $ 50,148 September 1,840 $ 20,691 October 1,124 $ 10,588 November 1,720 $ 20,454 Decemeber 11,364 $ 30,529 Requirement: (a)Using high -low method formulate y=a +bx (b) What would 31000 Guest occupancy days will cost for maintenance of the hotel? [marks
Town Center Tours provides historicalguided tours of several U.S. cities. The company charges $175 per person for the eight-hour tour.For groups of four or more, a group discount of $25 per person is offered. Here is a selection oftransactions during June: Requirement1. Journalize all transactions for Town Center Tours.
From April 1 through October 31, Will County Highway Department hires temporary employees to mow and clean the right-of-way along county roads. The County Road Commissioner has asked you to help her in determining the variable labor cost of mowing and cleaning a mile of road. The following information is available regarding current-year operations: Month April May June July August September October Miles Mowed Labor Costs and Cleaned 350 $4,000 300 3,750 400 4,500 250 2,750 375 4,250 200 2,500 100 2,400 Use the information from the high- and low-volume months to develop a cost-estimating equation for monthly labor costs. Monthly labor costs = $ 1700 + $ 7 X Plot the data on a scatter diagram. Using the information from representative high- and low volume months, use the high-low method to develop a cost- estimating equation for monthly labor costs. Monthly labor costs = $ $ X Adjust the equation developed in requirement (b) to incorporate the effect of an anticipated 7 percent increase…
The following cost data pertain to the operations of Montgomery Department Stores, Ic., for the month of July. Corporate legal office salaries Apparel Department cost of sales-Evendale store Corporate headquarters building lease Store manager's salary-Evendale Store Apparel Department sales commission-Evendale Store store utilities-Evendale Store Apparel Department manager's salary-Evendale store Central warehouse lease cost 2$ 62,600 2$ 98,700 67,800 $ 18,100 2$ 9,000 2$ 12,500 9,700 $ 17,200 2$ Janitorial costs-Evendale Store 12,000 The Evendale Store is just one of many stores owned and operated by the company. The Apparel Department is one of many departments at the Evendale Store. The central warehouse serves all of the company's stores. Required: 1. What is the total amount of the costs listed above that are direct costs of the Apparel Department? 2. What is the total amount of the costs listed above that are direct costs of the Evendale Store? 3. What is the total amount of the…
The following cost data pertain to the operations of Montgomery Department Stores, Incorporated, for the month of July. Corporate legal office salaries Apparel Department cost of sales-Evendale Store Corporate headquarters building lease Store manager's salary-Evendale Store Apparel Department sales commission-Evendale Store Store utilities-Evendale Store Apparel Department manager's salary-Evendale Store Central warehouse lease cost Janitorial costs-Evendale Store $ 56,000 $ 90,000 $ 48,000 $ 12,000 $ 7,000 $ 11,000 $ 8,000 $ 15,000 $ 9,000 The Evendale Store is one of many stores owned and operated by the company. The Apparel Department is one of many departments at the Evendale Store. The central warehouse serves all of the company's stores. Required: 1. What is the total amount of the costs listed above that are direct costs of the Apparel Department? 2. What is the total amount of the costs listed above that are direct costs of the Evendale Store? 3. What is the total amount of…
Special-Order Decision, Services, Qualitative Aspects Jason Rogers works full-time for UPS and runs a lawn-mowing service part-time after work during the warm months of April through October. Jason has four men working with him, each of whom is paid $5.00 per lawn mowing. Jason has 29 residential customers who contract with him for once-weekly lawn mowing during the months of May through September, and twice-per-month mowings during April and October. On average, Jason charges $46 per lawn mowed. Recently, LStar Property Management Services asked Jason to mow the lawn at each of its 30 rental houses every two weeks during the months of May through September. LStar has offered to pay $30 per lawn mowing, and would forego the lawn edging that normally takes Jason's team about half of its regular mowing time. If Jason accepts the job, he can assign a three-man team to mow the rental house yards, and will have to buy an additional power lawn mower for about $345 used. Fuel to run the…
Required information Skip to question [The following information applies to the questions displayed below.] A local theater company sells 1,700 season ticket packages at a price of $300 per package. The first show in the 10-show season starts this week. (a) The sale of the season tickets before the first show. (b) The revenue from fulfilling the performance obligation by putting on the first show. Prepare the journal entries related for the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Special-Order Decision, Services, Qualitative Aspects Jason Rogers works full-time for UPS and runs a lawn-mowing service part-time after work during the warm months of April through October. Jason has four men working with him, each of whom is paid $5.00 per lawn mowing. Jason has 27 residential customers who contract with him for once-weekly lawn mowing during the months of May through September, and twice-per-month mowings during April and October. On average, Jason charges $46 per lawn mowed. Recently, LStar Property Management Services asked Jason to mow the lawn at each of its 29 rental houses every two weeks during the months of May through September. LStar has offered to pay $29 per lawn mowing, and would forego the lawn edging that normally takes Jason’s team about half of its regular mowing time. If Jason accepts the job, he can assign a three-man team to mow the rental house yards, and will have to buy an additional power lawn mower for about $375 used. Fuel to run the…
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.