Vulcan Flyovers offers scenic overflights of Mount Saint 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 Flights (q) Revenue ($355.00g). Expenses: Wages and salaries (53,100 $86.00g) Fuel ($30.00g) Airport fees (5840 534.00g) Aircraft depreciation ($10.00g) Office expenses ($200 $1.00q) Total expense Net operating income Actual Results 60 $ 16,000 8,228 1,970 2,765 600 428 Flexible Planning Budget Budget 60 $21,300 8,260 1,800 2,880 600 260 13,991 13,800 $ 2,009 $ 7,500 58 $20,590 8,088 1,740 2,812 580 258 13,478 $ 7,112 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. Required: 1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for po offer

Vulcan Flyovers offers scenic overflights of Mount Saint 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 Flights (q) Revenue ($355.00g). Expenses: Wages and salaries (53,100 $86.00g) Fuel ($30.00g) Airport fees (5840 534.00g) Aircraft depreciation ($10.00g) Office expenses ($200 $1.00q) Total expense Net operating income Actual Results 60 $ 16,000 8,228 1,970 2,765 600 428 Flexible Planning Budget Budget 60 $21,300 8,260 1,800 2,880 600 260 13,991 13,800 $ 2,009 $ 7,500 58 $20,590 8,088 1,740 2,812 580 258 13,478 $ 7,112 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. Required: 1. Prepare a flexible budget performance report for July that includes revenue and spending variances and activity variances. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for po offer

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter23: Flexible Budgeting (flexbud)

Section: Chapter Questions

Problem 5R

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Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($350.00q) Expenses: Wages and salaries ($3,200 + $88.00q) Fuel ($32.00g) Airport fees ($830 + $34.00q) Aircraft depreciation ($10.00q) Office expenses ($230 + $1.00q) Total expenses Net operating income Actual Results 54 $ 16,300 7,916 1,894 2,546 540 452 13,348 $ 2,952 Flexible Planning Budget Budget 54 $ 18,900 7,952 1,728 2,666 540 284 13,170 $ 5,730 52 $ 18, 200 7,776 1,664 2,598 520 282 12,840 $5,360 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a discount.
es Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State that explosively erupted in 1982. Data concerning the company's operations in July appear below: Flights (q) Revenue ($340.00g) Expenses: Wages and salaries ($3,200 + $85.00q) Fuel ($32.00g) Vulcan Flyovers Operating Data For the Month Ended July 31 Airport fees ($860+ $32.00q) Aircraft depreciation ($9.00q) Office expenses ($230+ $1.00q) Total expense Net operating income 124 Actual Results 61 $ 16,400 JUL 10 8,355 2,118 2,677 549 459 14, 158 Flexible Budget 61 $ 20,740 A Che
Exercise 9-4 (Algo) Prepare a Flexible Budget Performance Report [LO9-4] Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Flights (q) Revenue ($340.00q) Expenses: Wages and salaries ($3,300 + $91.00q) Fuel ($32.00q) Airport fees ($850 + $31.00q) Aircraft depreciation ($10.00q) Office expenses ($210+ $1.00q) Total expenses Net operating income Actual Results 55 $ 16,100 8,263 1,926 2,410 550 433 13,582 $ 2,518 Flexible Planning Budget Budget 53 $ 18,020 55 $ 18,700 8,305 1,760 2,555 550 265 13,435 $ 5,265 8,123 1,696 2,493 530 263 13,105 $ 4,915 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane at a discount.
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company's costs. Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Administrative expenses Rent Actual cars washed Revenue Expenses: Cleaning supplies Electricity Haintenance Hages and salaries Depreciation For example, electricity costs are $1,300 per month plus $0.09 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6,70 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Honth Ended August 31 Rent Fixed Cost per Month Administrative expenses Total expense Net operating income $1,300 $4,700 $8,100 $1,900 $1,700 Cost per Car Washed 0,400 $57,710 5,480 2,017 1,070 7,550 8,100 2,100 1,932 20,249 $ 29,4611 $0.60 $0.09 $0.10 $0.30 $0.04 Required: Calculate the company's revenue and spending variances for…
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Administrative expenses Rent Actual cars washed. For example, electricity costs should be $1,300 per month plus $0.09 per car washed. The company expects to wash 8,000 cars August and to collect an average of $6.90 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Fixed Cost Cost per Car per Month Washed $ 1,300 $4,100 $ 8,000 $ 1,800 $ 1,700 Administrative expenses Total expense Net operating income 8,100 $ 57,300 $ 0.80 $ 0.09 $0.20 $ 0.30 6,900 1,990 1,840 6,860 8,000 2,000 1,840 29,430 $ 27,870 $ 0.03
1. Prepare a performance report that compares static budget and actual costs for the period just ended (i.e., the report that Kellerman likely used when assessing his performance
ces W Actual pounds (q) Revenue ($4.10g) For the Month Ended August 31 Quilcene Oysteria Flexible Budget Expenses: Packing supplies ($0.30q) Oyster bed maintenance ($3,000) Wages and salaries ($2,400 + $0.30q) Shipping ($0.60q) Utilities ($1,270) Other ($470 + $0.019) Total expense Net operating income The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries. Shipping Utilities Other Total expense Net operating income 7,200 $ 27,100 2,330 2,860 4,970 4,050 1,080 1,162 16,452 $ 10,648
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent For Actual cars washed Revenue Expenses: Administrative expenses $ 0.03 For example, electricity costs should be $1,200 per month plus $0.09 per car washed. The company expects to wash 8,100 cars in August and to collect an average of $6.70 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement the Month Ended August 31 Cleaning supplies. Electricity Maintenance Wages and salaries Depreciation Rent Fixed Cost Cost per per Month Car Washed $0.40 $ 0.09 $0.15 $0.30 Administrative expenses Total expense Net operating incom $1,200 $4,700 $ 8,200 $1,900 $ 1,600 8,200 $ 56,370 3,740 1,899 1,455 7,490 8,200 2,100 1,743 26,627 $ 29,74)
Please help me answer the above specific to the question. 1. What is the budgeted production in sq. yards for July, Aug, and Sept? 2. What are the purchases in pounds for July and Aug? DO NOT GIVE SOLUTION IN IMAGE FORMAT
Required a. Prepare in good form a budgeted and actual income statement for internal use. Separate operating income from net income in the statements and indicate whether each variance is favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Sales Variable expenses: Fixed expenses: $ ROONEY COMPANY Internal Income Statement Budget 0 0 0 $ Actual 0 0 0 Variance Effect
You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president asked you to review the company's costing system and "do what you can to help us get better control of our manufacturing overhead costs." You find the company has never used a flexible budget, and you suggest preparing such a budget would be an excellent first step in overhead planning and control. After much effort and analysis, you estimated the following cost formulas and gathered the following actual cost data for March: Utilities Maintenance Supplies Indirect labor Depreciation Cost Formula $16,000+ $0.19 per machine-hour $38,500+ $1.30 per machine-hour $0.90 per machine-hour During March, the company worked 20,000 machine-hours and produced 14,000 units. The company originally planned to work 22,000 machine-hours during March. Required: 1. Calculate the activity variances for March. 2. Calculate the spending variances for March. $94,800+ $1.70 per…
Sales budget is a forecast expressed in Select one: a. Quality and Money O b. None of the above c. Units and Money O d. Taxes to be paid on sales revenue