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 8,000 pounds of oysters in August. The company's flexible budget for August appears below: Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (g) 8,000 34,000 Revenue ($4.25q) Expenses: Packing supplies ($0.35g) Oyster bed maintenance ($3, 400) Wages and salaries ($2,500+ $0.25q) Shipping ($0.60g) Utilities ($1,230) Other $440 $0.01g) 2,800 3,400 4,500 4,800 1,230 520 17,250 $16,750 Total expense Net operating income The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 8,000 Revenue $27,300 Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other 2,970 3,260 4,910 4,530 1,040 1,140 17,850 $ 9,450 Total expense Net operating income

Explanation / Answer

Revenue and spending variance :

Revenue 6700 U Expense Packing supplies 170 U Oyster bed maintenance 140 F Wages and salaries 410 U Shipping 270 F Utilities 190 F Other 620 U Total expense 600 U Net operating income 7300 U

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