Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold...
80.2K
Verified Solution
Link Copied!
Question
Accounting
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 Dysteria Flexible Budget For the Month Ended August 31 Actual pounds {q} 3,666 Revenue ($4.16q} $ 32,333 Expenses: Packing supplies {$6.35q) 2,866 Oyster bed maintenance {$3,366} 3,366 Wages and salaries {$2,466 + $6.36q} 4,866 Shipping ($6.?5q) 6,666 Utilities {$1,21a) 1,219 Gther {$4424 + $6.61q] sea Total expense 13,536 Net operating income $ 14:1?3 l The actual results for August appear below: Quilcene Dysteria Inc one Statement For the Month Ended August 31 Actual pounds 3,666 Revenue 5 26,866 Expenses: Packing supplies 2,9?6 Oyster bed maintenance 3,156 Wages and salaries 5,216 Shipping 5,?36 Utilities 1,626 Ether 1,146 Total expense 19,233 s 1, ate Net operating income F 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.) Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Total expense Net operating income
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!