Hoale Jeep Tours operakes jkep sours in the heart of the Colorade Rokies. The co

Question

Hoale Jeep Tours operakes jkep sours in the heart of the Colorade Rokies. The compangy bases its budgets measures ef rixed Variable Varlable four guide wagea 100 istrative expenses3.800 $ 65 In Febnuary, the company budgrted for 346 guests and 146 joops The company's income satement showing the achual nesuts or the menth appears below Bottle Jeep urs noohe Statement For the Month Ended February 28 , ce3 Total expense Net operating incom Prepare a flexible budget perfornance report showing both the comparo's activity variances and revense and spending variances for February. Select esch variance as favorable (F), unfavorable (U) or "Nose

Explanation / Answer

Solution:

Hottle Jeep Tours Flexible Budget Performance Report For the month ended February Particulars Actual results Revenue and spending variances Flexible Budget Activity Variances Planning Budget Guests 372 372 346 Jeeps 151 151 146 Revenue $53,552.00 $760.00 U $54,312.00 $3,796.00 F $50,516.00 Expenses: Tour guide wages $25,049.00 $3,003.00 U $22,046.00 $730.00 U $21,316.00 Vehicle Expenses $16,663.00 $1,748.00 U $14,915.00 $325.00 U $14,590.00 Administrative expenses $2,963.00 $1,163.00 U $1,800.00 $0.00 None $1,800.00 Total Expenses $44,675.00 $5,914.00 U $38,761.00 $1,055.00 U $37,706.00 Net Income $8,877.00 $6,674.00 U $15,551.00 $2,741.00 F $12,810.00

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