Vulcan Flyovers offers scene overflights of Mount St. Helens, the volcano in Was
ID: 2474806 • Letter: V
Question
Vulcan Flyovers offers scene 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
Answer:
Solution:
Activity Variance is the difference between Planned Budget and Flexible Budget.
Activity Variance
Revenue
680
F
Expenses:
Wages and Salaries
178
U
Fuel
68
U
Airport Fees
66
U
Aircraft Depreciation
20
U
Office Expenses
2
U
Total Expenses
334
U
Net Operating Income
346
F
Activity Variance
Revenue
680
F
Expenses:
Wages and Salaries
178
U
Fuel
68
U
Airport Fees
66
U
Aircraft Depreciation
20
U
Office Expenses
2
U
Total Expenses
334
U
Net Operating Income
346
F
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