Exercise 9-3 (Algo) Revenue and Spending Variances [LO9-3] 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. Actual pounds (q) Revenue ($4.10g) Expenses: For Packing supplies ($0.40g) Oyster bed maintenance ($3,500) Wages and salaries ($2,200 $0.40g) Shipping ($0.55g) Utilities ($1,200) Other (5440+ $0.01g) Actual pounds Revenue Expenses: Total expense Net operating income The actual results for August were as follows: Quilcene Oysteria Flexible Budget the Month Ended August 31 Packing supplies Oyster bed maintenance Hages and salaries Shipping Utilities Other Revenue Expenses Quilcene Oysteria Income Statement For the Month Ended August 31 Total expense Net operating income Shipping Utilities Other Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Packing supplies Oyster bed maintenance Wages and salaries Total expense Net operating income 7,500 $ 30,750 3,000 3,500 5,200 4,125 1,200 515 17,540 $ 13,210 7,500 $ 27,200 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.) 3,170 3,360 5,610 3,855 1,010 1,135 18,140 $ 9,060
Exercise 9-3 (Algo) Revenue and Spending Variances [LO9-3] 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. Actual pounds (q) Revenue ($4.10g) Expenses: For Packing supplies ($0.40g) Oyster bed maintenance ($3,500) Wages and salaries ($2,200 $0.40g) Shipping ($0.55g) Utilities ($1,200) Other (5440+ $0.01g) Actual pounds Revenue Expenses: Total expense Net operating income The actual results for August were as follows: Quilcene Oysteria Flexible Budget the Month Ended August 31 Packing supplies Oyster bed maintenance Hages and salaries Shipping Utilities Other Revenue Expenses Quilcene Oysteria Income Statement For the Month Ended August 31 Total expense Net operating income Shipping Utilities Other Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Packing supplies Oyster bed maintenance Wages and salaries Total expense Net operating income 7,500 $ 30,750 3,000 3,500 5,200 4,125 1,200 515 17,540 $ 13,210 7,500 $ 27,200 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.) 3,170 3,360 5,610 3,855 1,010 1,135 18,140 $ 9,060
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![Exercise 9-3 (Algo) Revenue and Spending Variances [LO9-3]
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:
For
Actual pounds (g)
Revenue (54.10g)
Expenses:
Packing supplies ($0.40g)
Oyster bed maintenance ($3,500)
Wages and salaries ($2,200 $0.40g)
Shipping ($0.55g)
Utilities ($1,200)
Other (5440+ $0.01g)
Actual pounds
Revenue
Expenses:
Total expense
Net operating income
The actual results for August were as follows:
Quilcene Oysteria
Income Statement
For the Month Ended August 31
Quiicene Oysteria
Flexible budget
the Month Ended August 31
Packing Supplies
Oyster bed maintenance
Hages and salaries
Shipping
Utilities
Other
Total expense
Net operating income
Revenue
Expenses
Quilcene Oysteria
Revenue and Spending Variances
For the Month Ended August 31
Packing supplies
Oyster bed maintenance
Wages and salaries
Shipping
Utilities
Other
Total expense
Net operating income
7,500
$ 30,750
3,000
3,500
5,200
4,125
1,200
515
17,540
$ 13,210
7,500
$ 27,200
3,170
3,360
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 (ie, zero variance). Input all amounts as positive values.)
5,610
3,855
1,010
1,135
18,140
$ 9,060](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff0a4e976-3597-4de8-93c3-f330d3be0980%2Ff174f44f-8b3f-4900-9f6e-083e953f5da6%2F41ndhpc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Exercise 9-3 (Algo) Revenue and Spending Variances [LO9-3]
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:
For
Actual pounds (g)
Revenue (54.10g)
Expenses:
Packing supplies ($0.40g)
Oyster bed maintenance ($3,500)
Wages and salaries ($2,200 $0.40g)
Shipping ($0.55g)
Utilities ($1,200)
Other (5440+ $0.01g)
Actual pounds
Revenue
Expenses:
Total expense
Net operating income
The actual results for August were as follows:
Quilcene Oysteria
Income Statement
For the Month Ended August 31
Quiicene Oysteria
Flexible budget
the Month Ended August 31
Packing Supplies
Oyster bed maintenance
Hages and salaries
Shipping
Utilities
Other
Total expense
Net operating income
Revenue
Expenses
Quilcene Oysteria
Revenue and Spending Variances
For the Month Ended August 31
Packing supplies
Oyster bed maintenance
Wages and salaries
Shipping
Utilities
Other
Total expense
Net operating income
7,500
$ 30,750
3,000
3,500
5,200
4,125
1,200
515
17,540
$ 13,210
7,500
$ 27,200
3,170
3,360
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 (ie, zero variance). Input all amounts as positive values.)
5,610
3,855
1,010
1,135
18,140
$ 9,060
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