cesWActual pounds (q)Revenue ($4.10g)For the Month Ended August 31Quilcene OysteriaFlexible BudgetExpenses:Packing supplies ($0.30q)Oyster bed maintenance ($3,000)Wages and salaries ($2,400 + $0.30q)Shipping ($0.60q)Utilities ($1,270)Other ($470 + $0.019)Total expenseNet operating incomeThe actual results for August appear below:Quilcene OysteriaIncome StatementFor the Month Ended August 31Actual poundsRevenueExpenses:Packing suppliesOyster bed maintenanceWages and salaries.ShippingUtilitiesOtherTotal expenseNet operating income7,200$ 27,1002,3302,8604,9704,0501,0801,16216,452$ 10,648< Prev2 of 67,200$ 29,5202,1603,0004,5604,3201,27054215,852$ 13,668⠀⠀Next > NetRequired:Calculate the company's revenue and spending variances for August. (Indicate the efffor favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). InpuRevenueExpenses:ComeShippingUtilitiesOtherQuilcene OysteriaRevenue and Spending VariancesFor the Month Ended August 31Packing suppliesOyster bed maintenanceWages and salariesTotal expenseNet operating income< Prev2 of 6#Next >

REVENUE & SPENDING VARIANCE When Actual revenue are less than flexible revenue then the…

Required: Calculate the company's revenue and spending variances for August. (Indicate the eff for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Inpu 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 < Prev 2 of 6 www www www www Next >

Required: Calculate the company's revenue and spending variances for August. (Indicate the eff for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Inpu 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 < Prev 2 of 6 www www www www Next >

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1 Normal board Font Paragraph 6. Prime cost Q.No.3 The following information has been by New Inc. in preparing its budget for November and Deceber 2020. January (in Millions) February (in Millions) Units to be sold Units to be produced Direct Labor hours Insurance of factory Salaries selling Depreciation ( factory building) Light and heat (factory) Advertising Indirect Factory Labor Factory Supplies Direct material consumption Lubricants for factory machine 220 240 200 480 400 400 400 260 200 680 260 200 600 300 760 300 660 600 1200 360 500 1000 300 Calculate the following. 1. Variable FOH Rate 2. Total Variable FOH
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es w Exercise 9-1 (Algo) Prepare a Flexible Budget [LO9-1] Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($390.00q) Expenses: Wages and salaries ($11,200 + $126.00q) Supplies ($4.00q) Equipment rental ($2,300 + $22.00q) Insurance ($4,200) Miscellaneous ($500+ $1.46q) Total expense Net operating income During May, the company's actual activity was 340 diving-hours. 350 $ 136,500 Puget Sound Divers Flexible Budget For the Month Ended May 31
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