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Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 8,000 pounds of oysters in August. The company's flexible budget
Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 8,000 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) 8,000 Revenue ($4.209) $33,600 Expenses: Packing supplies ($0.30g) 2,488 Oyster bed maintenance ($3,200) 3,200 Wages and salaries ($2,400 + $0.35) 5,200 Shipping ($0.709) 5,600 Utilities ($1,240) 1,249 Other ($440 + $0.019) 520 Total expense 18,160 Net operating income $15,440 The actual results for August appear below. Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 8,000 $27,000 2,570 3,060 Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 5,610 5,330 1,050 1,140 18,760 $ 8,240 Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect i.e., zero variance). Input all amounts as positive values.) Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Revenue S 35,200 Expenses: Packing supplies 4.200U Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income
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