Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,800...
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Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,800 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) 7,800 Revenue ($4.15q) $ 32,370 Expenses: Packing supplies ($0.35q) 2,730 Oyster bed maintenance ($3,500) 3,500 Wages and salaries ($2,500 + $0.40q) 5,620 Shipping ($0.55q) 4,290 Utilities ($1,270) 1,270 Other ($450 + $0.019) 528 Total expense 17,938 $ 14,432 Net operating income The actual results for August were as follows: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income Required: 7,800 $ 26,800 2,900 3,360 6,030 4,020 1,080 1,148 18,538 $ 8,262 Calculate the company's revenue and spending variances for August. Note: 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. Revenue Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,800 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) 7,800 Revenue ($4.15q) $ 32,370 Expenses: Packing supplies ($0.35q) 2,730 Oyster bed maintenance ($3,500) 3,500 Wages and salaries ($2,500 + $0.40q) 5,620 Shipping ($0.55q) 4,290 Utilities ($1,270) 1,270 Other ($450 + $0.019) 528 Total expense 17,938 $ 14,432 Net operating income The actual results for August were as follows: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income Required: 7,800 $ 26,800 2,900 3,360 6,030 4,020 1,080 1,148 18,538 $ 8,262 Calculate the company's revenue and spending variances for August. Note: 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. Revenue Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income
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