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:
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 ie zero variance Input all amounts as positive values.
tableVulcan FlyoversFlexible Budget Performance ReportFor the Month Ended July Acti,Results,,,,,tablexibleIgettablePlanningBudgetFlightsRevenue$$U$$Expenses:Wages and salaries,,FFuelAirport fees,,FAircraft depreciation,,None,,Office expenses,,Total expenses,,Net operating income,$$U$
