#11: Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,200 pounds of oysters in August. The companys flexible budget for August appears below: 62

Required:

Compute the companys 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.)

he POdhnds 1s m nugus dopay s hakioie budget for August appears below Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (q) Revenue ($4.15q) 7,200 $29,880 Expenses: Packing supplies ($0.35q) Oyster bed maintenance ($3,200) 2,520 3,200 Wages and salaries ($2,300+$045g) 5,540 Shipping ($0.70q) Utilities ($1,210) Other ($420 $0.01q) 1,210 492 18,002 $ 11,878 Total expense Net operating income The actual results for August appear below Quilcene Oysteria Income ioded August 37.200 For the Month Ended August 31 Actual pounds Revenue 7,200 $27,100 Expenses: 2,690 3,060 5,950 4,770 1,020 1,112 Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense 18,602 Net operating income S 8,498 1197