Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help 7,300 $ 30,295 Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (9) Revenue ($4.159) Expenses: Packing supplies ($0.259) Oyster

please help
image text in transcribed
image text in transcribed
7,300 $ 30,295 Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (9) Revenue ($4.159) Expenses: Packing supplies ($0.259) Oyster bed maintenance ($3,300) Wages and salaries ($2,300 + $0.35) Shipping ($0.559) Utilities ($1,250) Other ($460 + $0.019) Total expense Net operating income 1,825 3,300 4,855 4,015 1,250 533 15,778 $ 14,517 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,300 Revenue $ 26,600 Expenses: Packing supplies 1,995 Oyster bed maintenance 3,160 Wages and salaries 5, 265 Shipping 3,745 Utilities 1,060 Other 1,153 Total expense 16,378 Net operating income $ 10,222 Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by selecting "P" for favorable, "U" for unfavorable, and "None" for no effect (le, zero variance). Input all amounts as positive values.) Quilcano Oystore Revenue and Spending Variances For the Month Ended August 31 Revenue Expenses Pacing 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

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Financial Accounting

Authors: Richard E. Baker, Valdean C. Lembke, Thomas E. King

5th Edition

0072444126, 978-0072444124

More Books

Students also viewed these Accounting questions

Question

Who is present when I give in to my bad habit?

Answered: 1 week ago

Question

Describe the three parts of developing a new habit.

Answered: 1 week ago