Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,700 pounds of oysters in August. The company's flexible
Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,700 pounds of oysters in August. The company's flexible budget for August appears below: Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (q) 7,700 Revenue ($4.10g) $31,570 Expenses: Packing supplies ($0.40g) 3,080 Oyster bed maintenance ($3,200) 3,200 Wages and salaries ($2,100 + $0.40g) 5,180 Shipping ($0.65g) 5,005 Utilities ($1,290) 1,290 Other ($450 + $0.01g) 527 Total expense 18,282 Net operating income $13,288 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,700 Revenue $26,700 Expenses Packing supplies 3,250 Oyster bed maintenance 3,060 Wages and salaries 5,590 Shipping 4,735 Utilities Other Total expense 1,100 1,147 18,002
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