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Prepare the company flexible budget performance report

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Reference no: EM131823028

Problem - Tervo Jeep Tours operates jeep tours in the heart of the Colorado Rockies. The company bases its budgets on two measures of activity (i.e., cost drivers), namely guests and jeeps. One vehicle used in one tour on one day counts as a jeep. Each jeep has one tour guide. The company has provided the following report for March:

 

 

 

 

Plan

Actual

Guest

 

 

 

492

497

Jeeps

 

 

 

165

163

 

Fixed

Variable per guest

Variable per jeep

 

 

Revenue

$ -

$101

$ -

49,692

49,067

Expenses:

 

 

 

-

 

Tour guide wages

$-

$ -

$136

22,440

21,858

Vehicle expenses

$4,900

$8

$57

18,241

17,917

Administrative expenses

$1,000

$2

$ -

1,984

2,014

Total expense

 

 

 

42,665

41,789

Net Operating Income

 

 

 

7,027

7,278

Required: Prepare the company's flexible budget performance report for March. Label each variance as favorable (F) or unfavorable (U).

Reference no: EM131823028

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