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Question

File Edit View History Bookmarks People Window Help McGraw-Hill Education Campi xy D chapter 8, Part 1 Homework 230-002 × C ezto.mheducation.com/hm.tpx Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,400 pounds of oysters in August. The company's flexible budget for August appears below Quilcene Oysteria Flexible Budget Actual pounds (q) Revenue ($4.05q) 7,400 $29,970 Expenses: Packing supplies ($0.35q) Oyster bed maintenance ($3,300) 2,590 3,300 Wages and salaries ($2,500 $0.50q) 6,200 Shipping (S0.60q) Utilities ($1,270) Other ($500+$0.01q) 4.440 1,270 574 Total expense 18,374 Net operating income $ 11,596 The actual results for August appear below Quilcene Oysteria income Statement For the Month Ended August 31 Actual pounds Revenue 7,400 27,300 Packing supplies Oyster bed mairtenance Wages and salaries Shipping Uslities Other 2,760 3,160 6,610 4,170 1,080 1,194 Total expense 18,974 Net operating income s 8,326

Explanation / Answer

Answer

Flexible Budget $

Actual Results $

Variance $

Favourable (F)/Unfavourable (U)

(for understanding)

(Answer column)

(Answer Column)

Revenue

29970

27300

-2670

Expenses:

packing Supplies

2590

2760

-170

Oyster bed maintenance

3300

3160

140

Wages & Salaries

6200

6610

-410

Shipping

4440

4170

270

Utilities

1270

1080

190

Other

574

1194

-620

Total expenses

18374

18974

-600

Net Operating Income

$11596

$8326

$-3270