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Prepare a flexible budget performance report for july

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Reference no: EM131716430

Question - Vulcan Flyovers offers scenic over-flights 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

 

Actual Results

Flexible Results

Planning Results

Flights (q)

62

62

60

Revenue ($345.00q)

$16,400

$21,390

$20,700

Expenses:

 

 

 

Wages and salaries ($3,600 + $89.00q)

9,080

9,118

8,940

Fuel ($33.00q)

2,210

2,046

1,980

Airport fees ($840 + $31.00q)

2,642

2,762

2,700

Aircraft depreciation ($10.00q)

620

620

600

Office expenses ($200 + $1.00q)

430

262

260

Total expense

14,982

14,808

14,480

Net operating income

$1,418

$6,582

$6,220

The company measures its activity in terms of flights. Customers can buy individual tickets for over-flights or hire an entire plane for an over-flight at a discount.

Required: Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances.

Reference no: EM131716430

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