Quilcene Oysteris farms and sells oysters in the Pacific Northwest. The compsny
ID: 2569977 • Letter: Q
Question
Quilcene Oysteris farms and sells oysters in the Pacific Northwest. The compsny harvested and sold 7,300 pounds of oysters in August. The company's flexible budget for August appears below: Quilcene Dysteria Flexible Budget For the Month Ended August 31 Actual pounds (4) 7,380 $ 38.295 2,555 Revenue ($4.15q) Expenscs Packing supplies ($8.35q) Oyster bed maintenance ($3,180) Nages and salaries ($2,28e $8.s8q) Shipping ($e.65q) Utilities ($1,228) Other ($428$8.e1q) 3,180 4.745 1,228 Total expense Net operating incone The sctual results for August sppear below Quilcene Oysteria Incomc Statenent For the Month Ended August 31 Actual pounds 7,380 $ 27-888 Expenses Packing supplics Oyster bed maintenance Wages and salarics shipping Utilitics other 2,725 2,968 6,260 4,475 Total expense Net operating incone Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (L.e., zero varlance). Input all amounts as positlve values.) Revenue and Spending Varlances the Month Ended Auguet 31 Expenses Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating incomeExplanation / Answer
Revenue and Spending Variance is as prepared below:
Quilcene Oysteria Spending variances For the Month Ended August 31 Particulars Actual Flexible Budget Spending variance Actual pounds 7,300 7,300 Revenue 30,295 27,000 3,295 F Expenses: Packing supplies 2,555 2,725 -170 F Oysters Bed maintenance 3,100 2,960 140 U Wages and Salaries 5,850 6,260 -410 F Shipping 4,745 4,475 270 U utilities 1,220 1,030 190 U Other 493 1,113 -620 F Total expense 17,963 18,563 -600 F Net operating Income 12,332 8,437 3,895 FRelated Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.