#4-Flexible Budget Pe Mt. Hood Air : Mt Hood Air offers scenic overflights of Mt

Question

#4-Flexible Budget Pe Mt. Hood Air : Mt Hood Air offers scenic overflights of Mt hood and the Columbia River The company measures its activity in terms of flights. Customers carn Required e overflights or hire an entire plane for an overflight at a discount. Complete the flexble budget performance report below Mt. Hood Air ctual Results Planning Dudget Activity Variances Client -Flights (q) 24.5o0 1, 500) 14152,200 7,300 Revenue Expenses Wages & salaries(SS80+001101 Fuel ($40.00g) Airport fees (5870+ $30.00) Aircraft depreciation (Sanou) |ASO-- 350 417.19 S 13.050 Total expenses Net operating income

Explanation / Answer

Planning budget Activity variances Flexible budget Revenue and spending variances Actual results Client flights 75 70 70 Revenue 34500 2300 F 32200 2800 F 35000 Expenses: Wages and salaries 10925 475 U 10450 1650 U 12100 Fuel 3000 200 U 2800 300 U 3100 Airport fees 3120 150 U 2970 170 F 2800 Aircraft depreciation 750 50 U 700 0 None 700 office expenses 275 5 U 270 80 U 350 Total expenses 18070 880 U 17190 1860 U 19050 Net operating income 16430 1420 F 15010 940 F 15950

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