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Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($350.009) Expenses: Wages and salaries ($3,100 + $89.009) Fuel ($31.009) Airport fees ($800+ $32.009) Aircraft depreciation ($9.009) Office expenses ($220 + $1.00q) Total expense Net operating income Actual Results Flexible Budget Planning Budget 54 54 52 $ 16,100 $ 18,900 $ 18,200 7,868 7,906 7,728 1,842 1,674 1,612 2,428 2,528 2,464 486 486 468 442 13,066 274 12,868 272 12,544 $ 3,034 $ 6,032 $ 5,656 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. Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flights Revenue Revenue and Spending Actual Results Variances 54 $ 16,100 Flexible Planning Activity Variances Budget Budget REBEL 54 52 $ 18,900 $ 18,200 Expenses Wages and salaries 7,868 7,906 7,728 Fuel 1,842 1,674 1,612 Airport fees 2,428 2,528 2,464 Aircraft depreciation 486 486 468 Office expenses 442 274 272 Total expense 13,066 12,868 12,544 Net operating income $ 3,034 $ 6,032 $ 5,656

Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($350.009) Expenses: Wages and salaries ($3,100 + $89.009) Fuel ($31.009) Airport fees ($800+ $32.009) Aircraft depreciation ($9.009) Office expenses ($220 + $1.00q) Total expense Net operating income Actual Results Flexible Budget Planning Budget 54 54 52 $ 16,100 $ 18,900 $ 18,200 7,868 7,906 7,728 1,842 1,674 1,612 2,428 2,528 2,464 486 486 468 442 13,066 274 12,868 272 12,544 $ 3,034 $ 6,032 $ 5,656 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. Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flights Revenue Revenue and Spending Actual Results Variances 54 $ 16,100 Flexible Planning Activity Variances Budget Budget REBEL 54 52 $ 18,900 $ 18,200 Expenses Wages and salaries 7,868 7,906 7,728 Fuel 1,842 1,674 1,612 Airport fees 2,428 2,528 2,464 Aircraft depreciation 486 486 468 Office expenses 442 274 272 Total expense 13,066 12,868 12,544 Net operating income $ 3,034 $ 6,032 $ 5,656

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter25: Departmental Accounting
Section: Chapter Questions
Problem 9SPA: INCOME STATEMENT WITH DEPART MENTAL DIRECT OPERATING MARGIN AND TOTAL OPERATING INCOME Durwood...
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Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($350.009) Expenses: Wages and salaries ($3,100 + $89.009) Fuel ($31.009) Airport fees ($800+ $32.009) Aircraft depreciation ($9.009) Office expenses ($220 + $1.00q) Total expense Net operating income Actual Results Flexible Budget Planning Budget 54 54 52 $ 16,100 $ 18,900 $ 18,200 7,868 7,906 7,728 1,842 1,674 1,612 2,428 2,528 2,464 486 486 468 442 13,066 274 12,868 272 12,544 $ 3,034 $ 6,032 $ 5,656 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. Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flights Revenue Revenue and Spending Actual Results Variances 54 $ 16,100 Flexible Planning Activity Variances Budget Budget REBEL 54 52 $ 18,900 $ 18,200 Expenses Wages and salaries 7,868 7,906 7,728 Fuel 1,842 1,674 1,612 Airport fees 2,428 2,528 2,464 Aircraft depreciation 486 486 468 Office expenses 442 274 272 Total expense 13,066 12,868 12,544 Net operating income $ 3,034 $ 6,032 $ 5,656
Transcribed Image Text:Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($350.009) Expenses: Wages and salaries ($3,100 + $89.009) Fuel ($31.009) Airport fees ($800+ $32.009) Aircraft depreciation ($9.009) Office expenses ($220 + $1.00q) Total expense Net operating income Actual Results Flexible Budget Planning Budget 54 54 52 $ 16,100 $ 18,900 $ 18,200 7,868 7,906 7,728 1,842 1,674 1,612 2,428 2,528 2,464 486 486 468 442 13,066 274 12,868 272 12,544 $ 3,034 $ 6,032 $ 5,656 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. Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Flights Revenue Revenue and Spending Actual Results Variances 54 $ 16,100 Flexible Planning Activity Variances Budget Budget REBEL 54 52 $ 18,900 $ 18,200 Expenses Wages and salaries 7,868 7,906 7,728 Fuel 1,842 1,674 1,612 Airport fees 2,428 2,528 2,464 Aircraft depreciation 486 486 468 Office expenses 442 274 272 Total expense 13,066 12,868 12,544 Net operating income $ 3,034 $ 6,032 $ 5,656
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