Question: Hello, please help me solve this problem. I need your help. value: 15.00 points Quilcene Oysteria farms and sells oysters in the Pacic Northwest. The

Hello, please help me solve this problem. I need your help.

Hello, please help me solve this problem. I need your help. value:

value: 15.00 points Quilcene Oysteria farms and sells oysters in the Pacic Northwest. The company harvested and sold 8,000 pounds of oysters in August. The company's exible budget for August appears below: Quiloene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (q) 8,000 Revenue ($4.15q) $ 33'200 Expenses: Packing supplies ($0.40q) 3,200 Oyster bed maintenance ($3,500) 3,500 Wages and salaries ($2,600 + $0.35q) 5,400 Shipping ($0.70!?) 5,600 Utilities ($1,260) 1,260 Other ($410 + $0.01q) 490 Total expense 19'450 Net operating income $ 13'750 The actual results for August appear below: Quiloene Oysteria Income Statement For the Month Ended August 31 Actual pounds 8,000 Revenue $ 26,900 Expenses: Packing supplies 3,370 Oyster bed maintenance 3,360 Wages and salaries 5,810 Shipping 5,330 Utilities 1,070 Other 1,110 Total expense 20,050 Net operating income $ 6,850 Required: Compute the company's revenue and spending variances for August. (I ndicate 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.) _ w _ Net operating income

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!