Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,600 pounds of oysters in August. The company's flexible budget for August appears below: Quileene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (9) 7,600 Revenue ($4.109) $ 31,160 Expenses Packing supplies ($0.300) 2,280 Oyster bed maintenance ($3,600) 3,600 Wages and salaries ($2,300 + $0.259) 4,200 Shipping ($0.609) 4,560 Utilities ($1,240) 1,240 Other ($460 + $0.019) 536 Total expense 16,416 Net operating income $ 14,744 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,600 $ 26,900 Revenue Expenses : Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense 2,450 3,460 4,610 4,290 1,050 1,156 17,016 $ 9,884 Net operating income Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). 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 Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,600 pounds of oysters in August. The company's flexible budget for August appears below: Quileene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (9) 7,600 Revenue ($4.109) $ 31,160 Expenses Packing supplies ($0.300) 2,280 Oyster bed maintenance ($3,600) 3,600 Wages and salaries ($2,300 + $0.259) 4,200 Shipping ($0.609) 4,560 Utilities ($1,240) 1,240 Other ($460 + $0.019) 536 Total expense 16,416 Net operating income $ 14,744 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,600 $ 26,900 Revenue Expenses : Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense 2,450 3,460 4,610 4,290 1,050 1,156 17,016 $ 9,884 Net operating income Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). 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
