Question
Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,700 pounds of oysters in August. The companys flexible budget
| Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,700 pounds of oysters in August. The companys flexible budget for August appears below: |
| Quilcene Oysteria Flexible Budget For the Month Ended August 31 | ||
| Actual pounds (q) | 7,700 | |
| Revenue ($4.10q) | $ | 31,570 |
| Expenses: | ||
| Packing supplies ($0.25q) | 1,925 | |
| Oyster bed maintenance ($3,100) | 3,100 | |
| Wages and salaries ($2,100 + $0.45q) | 5,565 | |
| Shipping ($0.80q) | 6,160 | |
| Utilities ($1,280) | 1,280 | |
| Other ($430 + $0.01q) | 507 | |
| Total expense | 18,537 | |
| Net operating income | $ | 13,033 |
| The actual results for August appear below: |
| Quilcene Oysteria Income Statement For the Month Ended August 31 | ||
| Actual pounds | 7,700 | |
| Revenue | $ | 26,500 |
| Expenses: | ||
| Packing supplies | 2,095 | |
| Oyster bed maintenance | 2,960 | |
| Wages and salaries | 5,975 | |
| Shipping | 5,890 | |
| Utilities | 1,090 | |
| Other | 1,127 | |
| Total expense | 19,137 | |
| Net operating income | $ | 7,363 |
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
Unofficial Guide To Medical Research Audit And Teaching
Authors: Ceen-Ming Tang BA BM BCh MRCGP, Colin Fischbacher, Zeshan Qureshi BM BSc MSc MRCPCH FAcadMEd MRCPS
1st Edition
0957149980, 978-0957149984
