Flight Caf is a company that prepares in-flight meals for airlines in its kitchen located...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Flight Caf is a company that prepares in-flight meals for airlines in its kitchen located next to the local airport. The companys planning budget for July appears below:
In July, 24,000 meals were actually served. The companys flexible budget for this level of activity appears below:
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) Revenue ($4.15q 7,200 $ 29,880 Expenses: Packing supplies ($0.40q) Oyster bed maintenance ($3,300) Wages and salaries ($2,200 $0.50q) Shipping ($0.55q) Utilities ($1,270) Other ($430+$0.01q) 2,880 3,300 5,800 3,960 1,270 502 Total expense 17,712 Net operating income $12,168 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds Revenue 7,200 $26,700 Expenses Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other 3,050 3,160 6,210 3,690 1,080 1,122 Total expense 18,312 Net operating income $ 8,388
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
