Flexible Budget For the Month Ended August 31 Actual pounds (q) Revenue ($4.10q) Expenses: Packing supplies ($0.40q) Oyster bed maintenance ($3,300) Wages and salaries ($2,200 + $0.30q) Shipping ($0.609) Utilities ($1,260) Other ($420 + $0.019) Total expense Net operating income The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 7,200 $ 29,520 2,880 3,300 4,360 4,320 1,260 492 16,612 $ 12,908 Actual pounds Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income Required: 7,200 $ 26,900 3,050 3,160 4,770 4,050 1,070 1,112 17,212. $ 9,688 Calculate the company's revenue and spending variances for August. Note: 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.
Flexible Budget For the Month Ended August 31 Actual pounds (q) Revenue ($4.10q) Expenses: Packing supplies ($0.40q) Oyster bed maintenance ($3,300) Wages and salaries ($2,200 + $0.30q) Shipping ($0.609) Utilities ($1,260) Other ($420 + $0.019) Total expense Net operating income The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 7,200 $ 29,520 2,880 3,300 4,360 4,320 1,260 492 16,612 $ 12,908 Actual pounds Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income Required: 7,200 $ 26,900 3,050 3,160 4,770 4,050 1,070 1,112 17,212. $ 9,688 Calculate the company's revenue and spending variances for August. Note: 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
am. 103.
Transcribed Image Text:Flexible Budget
For the Month Ended August 31
Actual pounds (q)
Revenue ($4.10q)
Expenses:
Packing supplies ($0.40q)
Oyster bed maintenance ($3,300)
Wages and salaries ($2,200 + $0.30q)
Shipping ($0.609)
Utilities ($1,260)
Other ($420 + $0.019)
Total expense
Net operating income
The actual results for August appear below:
Quilcene Oysteria
Income Statement
For the Month Ended August 31
7,200
$ 29,520
2,880
3,300
4,360
4,320
1,260
492
16,612
$ 12,908
Actual pounds
Revenue
Expenses:
Packing supplies
Oyster bed maintenance
Wages and salaries
Shipping
Utilities
Other
Total expense
Net operating income
Required:
7,200
$ 26,900
3,050
3,160
4,770
4,050
1,070
1,112
17,212.
$ 9,688
Calculate the company's revenue and spending variances for August.
Note: 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.
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