TipTop Flight School offers flying lessons at a small municipal airport. The sch

Question

TipTop Flight School offers flying lessons at a small municipal airport. The school's owner and manager has been attempting to evaluate performance and control costs using a variance report that compares the planning budget to actual results. A recent variance report appears below: planning budget to actual results. A re TipTop Flight School Variance Report For the Month Ended July 31 Actual Planning ResultsBudgetVariances 160 Lessons Revenue 165 $35,400 34,400 $1,000 F Expenses Instructor wages Aircraft depreciation Fuel Maintenance Ground facility expenses Administration 10,410 6,105 3,820 2,570 2,370 4,255 10,240 5,920 3,360 2,420 2,440 4,340 170 U 185 U 460 U 150 U 70 F 85 F Total expense 29,530 28,720 810 U Net operating income S 5,870 5,680 $ 190 F

Explanation / Answer

Actual Revenue & spending Flexible results variances Budget Activity Variances lessons 165 0 N 165 5 F revenue 35400 75 U 35475 1075 F expenses instructor wages 10410 150 F 10560 320 U aircraft depreciation 6105 0 N 6105 185 U fuel 3820 355 U 3465 105 U maintenance 2570 95 U 2475 55 U ground facility expenses 2370 95 F 2465 25 U administration 4255 90 F 4345 5 U total expense 29530 115 U 29415 695 U net operating income 5870 190 U 6060 380 U

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.