Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,100 pounds of oysters in August. The company's flexible budget for August appears below: Quilcene...


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Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,100 pounds of oysters in<br>August. The company's flexible budget for August appears below:<br>Quilcene Oysteria<br>Flexible Budget<br>For the Month Ended August 31<br>Actual pounds (q)<br>7,100<br>$ 29,820<br>Revenue ($4.20g)<br>Expenses:<br>Packing supplies ($0.25g)<br>Oyster bed maintenance ($3,100)<br>Wages and salaries ($2,400 + $0.30q)<br>Shipping ($0.80g)<br>Utilities ($1,260)<br>Other ($470 + $0.01g)<br>Total expense<br>1,775<br>3,100<br>4,530<br>5,680<br>1,260<br>541<br>16,886<br>$ 12,934<br>Net operating income<br>The actual results for August appear below:<br>Quilcene Oysteria<br>Income Statement<br>For the Month Ended August 31<br>Actual pounds<br>7,100<br>Revenue<br>$ 26,600<br>Expenses:<br>Packing supplies<br>Oyster bed maintenance<br>Wages and salaries<br>Shipping<br>Utilities<br>1,945<br>2,960<br>4,940<br>5,410<br>1,070<br>1,161<br>17,486<br>$ 9,114<br>Other<br>Total expense<br>Net operating income<br>Required:<br>Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by selecting

Extracted text: Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,100 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 (q) 7,100 $ 29,820 Revenue ($4.20g) Expenses: Packing supplies ($0.25g) Oyster bed maintenance ($3,100) Wages and salaries ($2,400 + $0.30q) Shipping ($0.80g) Utilities ($1,260) Other ($470 + $0.01g) Total expense 1,775 3,100 4,530 5,680 1,260 541 16,886 $ 12,934 Net operating income The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,100 Revenue $ 26,600 Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities 1,945 2,960 4,940 5,410 1,070 1,161 17,486 $ 9,114 Other Total expense Net operating income Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)

Jun 10, 2022
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