Check my work 16 Exercise 9-4 Prepare a Flexible Budget Performance Report [LO9-
ID: 2405898 • Letter: C
Question
Check my work 16 Exercise 9-4 Prepare a Flexible Budget Performance Report [LO9-4] Vulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Washington State that explosively nts 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 Plannin ResultsBudgetBudget 60 eBook Flights (q) 62 62 Revenue ($340.00q) Expenses $16,000 $21,080 $20,400 Hint Wages and salaries ($3,700+$89.00g) Fuel ($33.00q) Airport fees ($860 $31.00g) Aircraft depreciation ($10.00g) Office expenses ($240$1.00g) 9,180 9,2189,040 2,210 2,046 1,980 2,632 2,7822,720 600 300 Print 620 470 620 302 Total expense Net operating income ?15,112??14,968?14,640? $ 888 6,112 5,760 References 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.Explanation / Answer
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Vulcan Flyovers Flexible budget performance report For the Month Ended July 31 Actual results Spending variance Flexible Budget Activity variance Planning budget Flights 62 62 60 Revenue $16,000 $5080 U $21,080 $680 F $20,400 Expenses: Wages and Salaries $9,180 $38 F $9,218 $178 U $9,040 Fuel $2,210 $164 U $2,046 $66 U $1,980 Airport fees $2,632 $150 F $2,782 $62 U $2,720 Aircraft depreciation $620 $0 None $620 $20 U $600 Office expenses $470 $168 U $302 $2 U $300 Total expenses $15,112 $144 U $14,968 $328 U $14,640 Net operating Income $888 $5224 U $6,112 $352 F $5,760