Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,300 pounds of oysters in August. The company's flexible budget for August appears below: Actual pounds (4) Revenue ($4.15q) Expenses: Packing supplies (50.300) Oyster bed maintenance ($3,300) wages and salaries ($2,200 $0.254) Shipping ($8.68g) utilities ($1,260) Other (1458. se.01g) Quilcene Oysteria Flexible Budget For the Month Ended August 31 Total expense Net operating income The actual results for August were as follows: Quilcene Oysteria 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 Revenue Expenses Quiicene Oysteria Revenue and Spending Variances For the Month Ended August 31 Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other 7,300 $ 38,295 Total expense Net operating income 2,198 3,300 4,825 4,380 1,260 523 15,678 $ 14,617 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 (1.e., zero variance). Input all amounts as positive values.) 7,300 $ 26,888 2,368 3,160 4,435 4,118 1,070 1,143 16,278 $ 10,522
Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,300 pounds of oysters in August. The company's flexible budget for August appears below: Actual pounds (4) Revenue ($4.15q) Expenses: Packing supplies (50.300) Oyster bed maintenance ($3,300) wages and salaries ($2,200 $0.254) Shipping ($8.68g) utilities ($1,260) Other (1458. se.01g) Quilcene Oysteria Flexible Budget For the Month Ended August 31 Total expense Net operating income The actual results for August were as follows: Quilcene Oysteria 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 Revenue Expenses Quiicene Oysteria Revenue and Spending Variances For the Month Ended August 31 Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other 7,300 $ 38,295 Total expense Net operating income 2,198 3,300 4,825 4,380 1,260 523 15,678 $ 14,617 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 (1.e., zero variance). Input all amounts as positive values.) 7,300 $ 26,888 2,368 3,160 4,435 4,118 1,070 1,143 16,278 $ 10,522
Cornerstones of Cost Management (Cornerstones Series)
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ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
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Chapter8: Budgeting For Planning And Control
Section: Chapter Questions
Problem 7CE: Refer to Cornerstone Exercise 8.6. Required: 1. Calculate the total budgeted cost of units produced...
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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 7,300 pounds of oysters in
August. The company's flexible budget for August appears below:
Actual pounds (4)
Revenue ($4.15q)
Expenses:
Packing supplies (50.300)
Oyster bed maintenance ($3,300)
wages and salaries ($2,200 $8.259)
Shipping ($8.609)
utilities ($1,260)
Other (1450 $0.01g)
Total expense
Net operating income
Quilcene Oysteria
Flexible Budget
For the Month Ended August 31
The actual results for August were as follows:
Quilcene Oysteria
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
Revenue
Expenses
Quilcene. Oyeteris
Revenue and Spending Variances
For the Month Ended August 31
Packing supplies
Oyster bed maintenance
Wages and salaries
Shipping
Utilities
Other
7,300
$ 30,295
Total expense
Net operating income
2,198
3,300
4,825
4,388
1,260
523
15,678
$14,617
7,300
$ 26,800
Required:
Calculate the company's revenue and spending variances for August. (Indicate the effect of each varlance by selecting "F" for
favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.)
2,368
3,168
4,435
4,110
1,070
1,143
16,278
$ 10,522](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F68e23954-6a26-403a-9728-84b2d77c55d1%2Fc054cf29-79c3-4f7f-b62e-5885af1b83aa%2Fgh0qlr9_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 7,300 pounds of oysters in
August. The company's flexible budget for August appears below:
Actual pounds (4)
Revenue ($4.15q)
Expenses:
Packing supplies (50.300)
Oyster bed maintenance ($3,300)
wages and salaries ($2,200 $8.259)
Shipping ($8.609)
utilities ($1,260)
Other (1450 $0.01g)
Total expense
Net operating income
Quilcene Oysteria
Flexible Budget
For the Month Ended August 31
The actual results for August were as follows:
Quilcene Oysteria
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
Revenue
Expenses
Quilcene. Oyeteris
Revenue and Spending Variances
For the Month Ended August 31
Packing supplies
Oyster bed maintenance
Wages and salaries
Shipping
Utilities
Other
7,300
$ 30,295
Total expense
Net operating income
2,198
3,300
4,825
4,388
1,260
523
15,678
$14,617
7,300
$ 26,800
Required:
Calculate the company's revenue and spending variances for August. (Indicate the effect of each varlance by selecting "F" for
favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.)
2,368
3,168
4,435
4,110
1,070
1,143
16,278
$ 10,522
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