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Vulcan Flyovers offers scenic overflights of Mount Saint 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 Actual Results Flexible Planning Budget Budget 57 Flights (q) Revenue ($360.00g) Expenses: Wages and salaries ($3,400 + $90.00g) Fuel ($33.00g) Airport fees ($850 + $31.00g) Aircraft depreciation ($9.00g) Office expenses ($240 + $1.00g) Total expense 59 59 $ 16,200 $ 21,240 $ 20,520 8,670 2,111 2,529 531 467 14,308 8,710 1,947 2,679 531 299 8,530 1,881 2,617 513 297 13,838 $ 6,682 14,166 Net operating income $ 1,892 $ 7,074 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. (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.) Required: 1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances. (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 offers scenic overflights of Mount Saint 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 Actual Results Flexible Planning Budget Budget 57 Flights (q) Revenue ($360.00g) Expenses: Wages and salaries ($3,400 + $90.00g) Fuel ($33.00g) Airport fees ($850 + $31.00g) Aircraft depreciation ($9.00g) Office expenses ($240 + $1.00g) Total expense 59 59 $ 16,200 $ 21,240 $ 20,520 8,670 2,111 2,529 531 467 14,308 8,710 1,947 2,679 531 299 8,530 1,881 2,617 513 297 13,838 $ 6,682 14,166 Net operating income $ 1,892 $ 7,074 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. (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.) Required: 1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances. (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.)

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter7: Allocating Costs Of Support Departments And Joint Products
Section: Chapter Questions
Problem 30E: A company uses charging rates to allocate service department costs to the using departments. The...
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Vulcan Flyovers offers scenic overflights of Mount Saint 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 Flexible Planning Budget Actual Results Budget 59 Flights (q) Revenue ($360.00g) Expenses: Wages and salaries ($3,400 + $90.00g) Fuel ($33.00g) Airport fees ($850 + $31.00g) Aircraft depreciation ($9.00q) Office expenses ($240 + $1.00g) Total expense 59 57 $ 16,200 $ 21,240 $ 20,520 8,670 2,111 2,529 8,710 1,947 8,530 1,881 2,679 531 2,617 531 513 467 299 297 14,308 14,166 13,838 Net operating income $ 1,892 $ 7,074 $ 6,682 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. (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.) Required: 1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances. (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 Planning Budget Flexible Actual Results Budget Flights 59 59 57 Revenue $ 16,200 21,240 20,520 Expenses: Wages and salaries 8,670 8,710 8,530 Fuel 2,111 1,947 1,881 Airport fees 2,529 2,679 2,617 Aircraft depreciation 531 531 513 Office expenses 467 299 297 Total expense 14,308 14,166 13,838 Net operating income 1,892 7,074 6,682
Transcribed Image Text:Vulcan Flyovers offers scenic overflights of Mount Saint 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 Flexible Planning Budget Actual Results Budget 59 Flights (q) Revenue ($360.00g) Expenses: Wages and salaries ($3,400 + $90.00g) Fuel ($33.00g) Airport fees ($850 + $31.00g) Aircraft depreciation ($9.00q) Office expenses ($240 + $1.00g) Total expense 59 57 $ 16,200 $ 21,240 $ 20,520 8,670 2,111 2,529 8,710 1,947 8,530 1,881 2,679 531 2,617 531 513 467 299 297 14,308 14,166 13,838 Net operating income $ 1,892 $ 7,074 $ 6,682 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. (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.) Required: 1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances. (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 Planning Budget Flexible Actual Results Budget Flights 59 59 57 Revenue $ 16,200 21,240 20,520 Expenses: Wages and salaries 8,670 8,710 8,530 Fuel 2,111 1,947 1,881 Airport fees 2,529 2,679 2,617 Aircraft depreciation 531 531 513 Office expenses 467 299 297 Total expense 14,308 14,166 13,838 Net operating income 1,892 7,074 6,682
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