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Other ($400 + $0.01g) Total expense Net operating income The actual results for August were as follows: Actual pounds Revenue Expenses: Packing supplies Oyster bed maintenance. Wages and salaries Shipping Utilities Quilcene Oysteria Income Statement For the Month Ended August 31 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 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.) Net operating income Revenue Expenses: Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 474 18,124 $ 12,216 Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other 7,400 $ 26,600 Total expense Net operating income 2,760 3,060 5,500 Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive va 5,280 1,030 1,094 18,724 $ 7,876 $ 7,876

Other ($400 + $0.01g) Total expense Net operating income The actual results for August were as follows: Actual pounds Revenue Expenses: Packing supplies Oyster bed maintenance. Wages and salaries Shipping Utilities Quilcene Oysteria Income Statement For the Month Ended August 31 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 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.) Net operating income Revenue Expenses: Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 474 18,124 $ 12,216 Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other 7,400 $ 26,600 Total expense Net operating income 2,760 3,060 5,500 Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive va 5,280 1,030 1,094 18,724 $ 7,876 $ 7,876

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Other ($400 + $0.01g) Total expense Net operating income The actual results for August were as follows: Actual pounds Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Quilcene Oysteria Income Statement For the Month Ended August 31 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 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.) Net operating income Revenue Expenses: Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 474 18,124 $ 12,216 Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other 7,400 $ 26,600 Total expense Net operating income 2,760 3,060 5,500 5,280 1,030 Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive va 1,094 18,724 $7,876 $ 7,876
Transcribed Image Text:Other ($400 + $0.01g) Total expense Net operating income The actual results for August were as follows: Actual pounds Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Quilcene Oysteria Income Statement For the Month Ended August 31 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 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.) Net operating income Revenue Expenses: Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 474 18,124 $ 12,216 Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other 7,400 $ 26,600 Total expense Net operating income 2,760 3,060 5,500 5,280 1,030 Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive va 1,094 18,724 $7,876 $ 7,876
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 7,400 pounds of oysters in August. The company's flexible budget for August appears below: For Actual pounds (g) Revenue ($4.10g) Expenses: Packing supplies ($0.35g) Oyster bed maintenance ($3,200) Wages and salaries ($2,500+ $0.35g) Shipping ($0.75g) Utilities ($1,220) Quilcene Oysteria Flexible Budget the Month Ended August 31 Other ($400+ $0.01g) Total expense Net operating income The actual results for August were as follows: Quilcene Oysterial Income Statement For the Month Ended August 31 Actual pounds Revenue Expenses: Packing supplies. Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 7,400 $ 30,340 2,590 3,200 5,090 5,550 1,220 474 18,124 $ 12,216 7,400 $26,600 2,760 3,060 5,500. 5,280 1,030 1,094 18,724 $ 7,876
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 7,400 pounds of oysters in August. The company's flexible budget for August appears below: For Actual pounds (g) Revenue ($4.10g) Expenses: Packing supplies ($0.35g) Oyster bed maintenance ($3,200) Wages and salaries ($2,500+ $0.35g) Shipping ($0.75g) Utilities ($1,220) Quilcene Oysteria Flexible Budget the Month Ended August 31 Other ($400+ $0.01g) Total expense Net operating income The actual results for August were as follows: Quilcene Oysterial Income Statement For the Month Ended August 31 Actual pounds Revenue Expenses: Packing supplies. Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 7,400 $ 30,340 2,590 3,200 5,090 5,550 1,220 474 18,124 $ 12,216 7,400 $26,600 2,760 3,060 5,500. 5,280 1,030 1,094 18,724 $ 7,876
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