Vulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Wa

Question

Vulcan Flyovers offers scenic overflights 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 Flexible Planning ResultsBudgetBudget 59 $16,200 $21,655 $ 20,945 Flights (q) Revenue ($355.00q) 61 61 Expenses Wages and salaries ($3,100+$87.00q) 8,3738,4078,233 1,770 2,779 2,924 2,856 590 269 2,000 1,830 Fuel ($30.00q) Airport fees ($850+ $34.00q) Aircraft depreciation ($10.00q) Office expenses ($210+$1.00q) 610 439 610 271 Total expense 14,201 4,042 13,718 Net operating income $ 1,999 $ 7,613 $ 7,227 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.

Explanation / Answer

Vulcan Flyovers

Flexible Budget Performance Report

For the month ended July 31

Detail Actual $ Flexible Budget $ Planning Budget $ Revenue & Spending Variances F/UF Activity Variances F/UF Revenue 16200 21655 20945 (5455) UF 710 F Expenses: Wages & Salaries 8373 8407 8233 34 F (174) UF Fuel 2000 1830 1770 (170) UF (60) UF Airport fee 2779 2924 2856 145 F (68) UF Aircraft depreciation 610 610 590 - (20) UF Office expenses 439 271 269 (168) UF (2) UF Total Expenses 14201 14042 13718 (159) UF (324) UF Net Operating Income 1999 7613 7227 (5614) UF 386 F

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