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 | ||
For the Month Ended August 31 | ||
Actual pounds (q) | 7,400 | |
Revenue ($4.15q) | $ | 30,710 |
Expenses: | ||
Packing supplies ($0.30q) | 2,220 | |
Oyster bed maintenance ($3,100) | 3,100 | |
Wages and salaries ($2,200 + $0.45q) | 5,530 | |
Shipping ($0.70q) | 5,180 | |
Utilities ($1,240) | 1,240 | |
Other ($410 + $0.01q) | 484 | |
Total expense | 17,754 | |
Net operating income | $ | 12,956 |
The actual results for August appear below:
Quilcene Oysteria | ||
Income Statement | ||
For the Month Ended August 31 | ||
Actual pounds | 7,400 | |
Revenue | $ | 26,600 |
Expenses: | ||
Packing supplies | 2,390 | |
Oyster bed maintenance | 2,960 | |
Wages and salaries | 5,940 | |
Shipping | 4,910 | |
Utilities | 1,050 | |
Other | 1,104 | |
Total expense | 18,354 | |
Net operating income | $ | 8,246 |
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.)
Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,400...
Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,200 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) 7,200 Revenue ($4.10q) $ 29,520 Expenses: Packing supplies ($0.30q) 2,160 Oyster bed maintenance ($3,000) 3,000 Wages and salaries ($2,300 + $0.30q) 4,460 Shipping ($0.80q) 5,760 Utilities ($1,240) 1,240 Other ($460 + $0.01q) 532 Total expense 17,152 Net operating...
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: Flexible Budget For the Month Ended August 31 Actual pounds (9) Revenue ($4.259) 7,400 $31,450 Expenses: Packing supplies ($0.359) Oyster bed maintenance ($3,100) Wages and salaries ($2,500 + $0.359) Shipping ($0.809) Utilities ($1,260) Other ($470 + $0.019) 2,590 3,100 5,090 5,920 1,260 544 Total expense 18,504 Net operating income $12,946 The...
Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,600 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) 7,600 Revenue ($4.10q) $ 31,160 Expenses: Packing supplies ($0.25q) 1,900 Oyster bed maintenance ($3,200) 3,200 Wages and salaries ($2,400 + $0.45q) 5,820 Shipping ($0.70q) 5,320 Utilities ($1,260) 1,260 Other ($450 + $0.01q) 526 Total expense 18,026 Net...
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 For the Month Ended August 31 Actual pounds (9) 7,400 $ 29,970 Revenue ($4.059) Expenses: Packing supplies ($0.309) Oyster bed maintenance ($3,100) Wages and salaries ($2,300 + $0.359) Shipping ($0.709) Utilities ($1,290) Other ($430 + $0.019) Total expense Net operating income 2,220 3,100 4,890 5,180 1,290 504...
Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,500 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) 7,500 Revenue ($4.15q) $ 31,125 Expenses: Packing supplies ($0.35q) 2,625 Oyster bed maintenance ($3,300) 3,300 Wages and salaries ($2,500 + $0.30q) 4,750 Shipping ($0.65q) 4,875 Utilities ($1,280) 1,280 Other ($400 + $0.01q) 475 Total expense 17,305 Net operating...
Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,600 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) 7,600 Revenue ($4.15q) $ 31,540 Expenses: Packing supplies ($0.25q) 1,900 Oyster bed maintenance ($3,100) 3,100 Wages and salaries ($2,100 + $0.50q) 5,900 Shipping ($0.75q) 5,700 Utilities ($1,290) 1,290 Other ($420 + $0.01q) 496 Total expense 18,386 Net operating...
Check Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,300 pounds of oysters in August. The company's flexible budget for August appears below: 7,300 $ 29,565 Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (9) Revenue (54.859) Expenses: Packing supplies ($0.359) Oyster bed maintenance ($3,100) Wages and salaries ($2,200 + $0.489) Shipping ($0.650) Utilities (51,240) Other ($460 + $0.019) Total expense Net operating income 2,555 3,100 5,120 4,745 1,240...
Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,200 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) 7,200 Revenue ($4.15q) $ 29,880 Expenses: Packing supplies ($0.35q) 2,520 Oyster bed maintenance ($3,400) 3,400 Wages and salaries ($2,400 + $0.45q) 5,640 Shipping ($0.55q) 3,960 Utilities ($1,250) 1,250 Other ($500 + $0.01q) 572 Total expense 17,342 Net operating...
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 For the Month Ended August 31 Actual pounds (q) 7,400 Revenue ($4.25q) $ 31,450 Expenses: Packing supplies ($0.35q) 2,590 Oyster bed maintenance ($3,300) 3,300 Wages and salaries ($2,100 + $0.40q) 5,060 Shipping ($0.60q) 4,440 Utilities ($1,210) 1,210 Other ($460 + $0.01q) 534 Total expense 17,134 Net operating...
Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 8,000 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) 8,000 Revenue ($4.25q) $ 34,000 Expenses: Packing supplies ($0.35q) 2,800 Oyster bed maintenance ($3,500) 3,500 Wages and salaries ($2,400 + $0.50q) 6,400 Shipping ($0.70q) 5,600 Utilities ($1,240) 1,240 Other ($490 + $0.01q) 570 Total expense 20,110 Net operating...