Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7600 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 (a) 31.560 Revenue (54.159) Expenses Packing supplies (50.489) Oyster bed maintenance ($3,10) Wages and salaries ($2,300 + $e.Seq) Shipping (50.700) utilities ($1,240) Other (5450se.e14) Total expense Net operating incom The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds Revenue Expenses Packing supplies 3,2 Oyster bed maintenance Mapes and salarie 6.510 Shipping Utilities 1,050 Other Total expense Net operating income 2.274 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 os positive values.) Quiloene Oysteria Revenue and Spending Variances For the Month Ended August 31 Revenue Pacicing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Total expense Net operating income Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 4.000 helmets, using 2520 kilograms of plastic. The plastic cost the company $19,152 According to the standard cost card, each helmet should require 0.55 kilograms of plastic, at a cost of $8.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 4,000 helmets? 2. What is the standard materials cost allowed (SQ SP) to make 4,000 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (I.e., zero variance). Input all amounts os positive values. Do not round Intermediate calculations.) Standard quantity of kilograms allowed Standard cost allowed for actual output Materials spending variance Materials price variance Materials quantity variance Exercise 9-5 Direct Labor Varlances (LO9-5] SkyChefs, Inc. prepares in-flight meals for a number of major airlines. One of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. During the most recent week, the company prepared 4.300 of these meals using 1.250 direct labor-hours. The company paid its direct labor workers a total of $11.250 for this work, or $9.00 per hour. According to the standard cost card for this meal it should require 0.30 direct labor-hours at a cost of $8.50 per hour. Requlred: 1 What is the standard labor-hours allowed (SH) to prepare 4.300 meals? 2. What is the standard labor cost allowed (SHX SR) to prepare 4.300 meals? 3. What is the labor spending variance? 4 What is the labor rate variance and the labor efficiency variance? (For requirements 3 and 4, Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (le, zero variance). Input all amounts as positive values. Do not round Intermediate calculations.) Standard labor-hounslowed Standard labor cost allowed Labor spending vanance Labor rate variance Labor efficiency vanance
