Question

Exercise 9-2 Prepare a Report Showing Revenue and Spending Variances [LO9-2] 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 (9) 8,000 $ 32,000 Revenue ($4.009) Expensest Packing supplies (50.509) Oyster bed maintenance ($3,200) Wages and salaries ($2,900 + $0.309) Shipping ($0.809) Utilities ($830) Other ($450 + $0.059) Total expense Net operating income 4.000 3,200 5,300 6.400 830 350 20.580 $ 11,420

Answer 1

Solution

Quilcene Oysteria
Revenues and Spending Variance
For the Month ended August 31
Revenue	$ 3,200.00	F
Expenses:
Packing supplies	$ 200.00	U
Oyster Bed Maintenance	$ 100.00	F
Wages and Salaries	$ 340.00	U
Shipping	$ 550.00	U
Utilities	$ 20.00	F
Other	$ 130.00	U
Total Expenses	$ 1,100.00	U
Net Operating Income	$ 2,100.00	F