13 value 1.50 points Olympia Bivalve farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,600 pounds of oysters in July. The company's flexible budget for July appears below Olympia Bivalve Flexible Budget For the Month Ended July 31 Actual pounds (q) Revenue ($4.15q) 7,600 $31,540 Expenses: Packing supplies ($0.25q) Oyster bed maintenance ($3,200) Shipping (S0.70q) Utilities ($1,300) Other ($410+ $0.01q) 1,900 3,200 Wages and salaries (52,500+S0.40g) 5,540 5,320 1,300 486 Total expense 17,746 Net operating income $13,794 The actual results for July appear below Olympia Bivalve Income Statement For the Month Ended July 31 Actual pounds Revenue 7,600 $ 27,300 Expenses Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other 2,070 3,060 5,950 5,050 1,110 1,106 Total expense 18,346 Net operating income $ 8,954