Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. vulcan flyovers offers scenic overflights of mount

Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State that...

90.2K

Verified Solution

Question

Accounting

Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State that explosively erupted in 1982. Data concerning the companys operations in July appear below:
Vulcan Flyovers
Operating Data
For the Month Ended July 31
Actual Results Flexible Budget Planning Budget
Flights (q)484850
Revenue ($320.00q) $ 13,650 $ 15,360 $ 16,000
Expenses:
Wages and salaries ($4,000+ $82.00q)8,4307,9368,100
Fuel ($23.00q)1,2601,1041,150
Airport fees ($650+ $38.00q)2,3502,4742,550
Aircraft depreciation ($7.00q)336336350
Office expenses ($190+ $2.00q)460286290
Total expense 12,83612,13612,440
Net operating income $ 814 $ 3,224 $ 3,560
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 performance report for July that includes revenue and spending variances and activity variances.
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.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

6.It is proposed to study the entry of an aircraft launched torpedo into seawater. The full-size...

Mechanical Engineering
Q

A person producing sperm has a genotype of Aa for a particular trait. How many...

Biology
Q

Carbon, silicon and germanium have four valenceelectrons each. These are characterised by valenceand conduction bands...

Physics
Q

The mass of proton is 1 0073 u and that of neutron is 1 0087...

Physics
Q

Name Teacher Perpendicular Lines Find the equation of a line passing through the given point...

Geometry
Q

Let P be a point on the graph of y x The tangent line at...

Calculus
Q

Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively....

Accounting
Q

P16-19B

Accounting
Q

According to GAAP, under lower of cost or market, if you write inventory down, are...

Accounting
Q

Warren Company manufactures pans. Below is the information related to its direct material costs: Standard...

Accounting
Q

Identify and elaborate on the barriers to improved future audit experience that currently bedevils the...

Accounting
Q

Yn Inc. is a producer of this. Ang production process i ne yelds pole che...

Accounting