Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the companys operations in July appear below:
Vulcan Flyovers
Operating Data
For the Month Ended July
Actual Results Flexible Budget Planning Budget
Flights q
Revenue $q $ $ $
Expenses:
Wages and salaries $ $q
Fuel $q
Airport fees $ $q
Aircraft depreciation $q
Office expenses $ $q
Total expenses
Net operating income $ $ $
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.
