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.

1. Complete the flexible budget performance report abstract for July.
8:22 PM ezto.mheducation.com lT-Mobile Wi-Fi 2 10oints 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 Vulcan Flyovers Operating Data For the Month Ended July 31 5880-m 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. Complete the flexible budget performance report abstract for July. (Indicate the effect of each variance by selecting Ffor favorable, U" for unfavorable, and None" for no effect (i.e., zero variance). Input all amounts as positive values.) Relerencesook& Resources Difficulty

Explanation / Answer

Revenue and Spending Variance Activities Variance Revenue 4400 U 690 U Expenses Wages and Salaries 38 F 178 F Fuel 168 U 62 F Airport Fees 120 F 66 F Aircraft Depreciation 0 NONE 18 F Office Expense 168 U 2 F Total Expense 178 F 326 F Net Operating Income 4578 U 364 U

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