Answered step by step
Verified Expert Solution
Question
1 Approved Answer
For the Month Ended August 31 Actual pounds (q) 7,300 Revenue ($4.15q) $30,295 Expenses: Packing supplies (se.40q) Oyster bed maintenance ($3,200) Wages and salaries ($2,18ese.25q)
For the Month Ended August 31 Actual pounds (q) 7,300 Revenue ($4.15q) $30,295 Expenses: Packing supplies (se.40q) Oyster bed maintenance ($3,200) Wages and salaries ($2,18ese.25q) Shipping ($e.60q) Utilities ($1,300) other ($460 se.01q) 2,928 3, 2e 3,925 4, 380 1, 3ee 533 Total expense 16,258 $14,037 Net operating income The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,30e 27,300 Revenue Expenses: Packing supplies Oyster bed maintenance 3,09e 3,06e 4,335 4,110 Wages and salaries Shipping Utilities 1,11e 1,153 Other Total expense 16,858 $ 10,442 Net operating income Required: Calculate the company's revenue and spending varlances for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance). Input all amounts as positive values.) Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started