Vulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Wa

Question

Vulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Washington State that explosively erupted in 1982. Data concerning the company's operations in July appear below: 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. Complete the flexible budget performance report abstract for July. (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.)

Explanation / Answer

Actula result Flexible Bodget Planning Budget Revenue and Spending Variances Activity Variances Revenue 16500 18815 18105 2315 U 710 U Expenses: Wages and salaries 8481 8523 8341 42 F 182 F Fuel 1862 1696 1632 166 U 64 F Airport fees 2383 2513 2451 130 F 62 F Aircraft depreciation 477 477 459 0 None 18 F Office expenses 441 273 271 168 U 2 F Total expense 13644 13482 13154 162 U 328 F Net operating income 2856 5333 4951 2477 U 382 U

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