Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company

Question

Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,600 pounds of oysters in August. The company's flexible budget for August appears below: For the Month Ended August 31 Actual pounds (q) Revenue ($4.15q) 7,600 $31,540 Packing supplies (S0.30q) Oyster bed maintenance (S3,500) Wages and salaries ($2,100$0.40q) Shipping (SO.70q) Utilities ($1,260) Other ($400 $0.01q) 2,280 3,500 5,140 5,320 1,260 476 17.976 $13,564 Total expense Net operating income The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,600 Packing supplies Oyster bed maintenance Wages and salaries Shipping 2,450 3,360 5,550 5,050 ,070 1,096 Net operating income S 8,724

Explanation / Answer

Flexible Budget performance Actual Flexible Difference budget pounds 7,600 7,600 Revenue 27,300 31,540 4,240 U Expenses: Packing supplies 2,450 2,280 170 U oyster bad maintenance 3,360 3,500 140 F wages and salaries 5,550 5,140 410 U shipping 5,050 5,320 270 F utilities 1,070 1,260 190 F other 1,096 476 620 U Total expense 18,576 17,976 600 U net operating income 8,724 13,564 4,840 U

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