Compute the companys revenue and spending variances for August. (Indicate the effect of each variance...
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Compute the companys 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 Flexible Budget For the Month Ended August 31 Actual pounds (q) Revenue ($4.00q) 8,000 $ 32,000 Expenses Packing supplies ($0.50q) Oyster bed maintenance ($3,200) Wages and salaries ($2,900 $0.30q) Shipping ($0.80q) Utilities ($830) Other ($450+ $0.05q) 4,000 3,200 5,300 6,400 830 850 Total expense 20,580 Net operating income $11,420 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds Revenue 8,000 $35,200 Expenses Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other 4,200 3,100 5,640 6,950 810 980 Total expense 21,680 Net operating income $13,520
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