8 e Oysterla farms and sells oysters in the Pacific Northwest. The company harve

Question

8 e Oysterla farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,500 pounds of oysters in August. The company's flexible budget for August appears below Quilcene oysteria Flexible Budget For the Month Ended August 3:1 151 points Actual pounds (q) eBook 539, 375 Revenue ($4.85q) Expenses: Packing supplies (se.35q) Oyster bed maintenance ($3,480) Wages and salaries ($2,580 + $e.45q) Shipping ($8.68q) Utilities ($1,278) Other ($490+$e.81q) 2,625 3,488 5,875 4,500 1,278 18,235 $12,148 Total expense Net operating income The actual results for August appear below Income Statement 31 7,5e0 $26,980 Prev8 of 11Next O Type hene to search

Explanation / Answer

Quilcene Oysteria

Revenue and Spending Variances

For the month ended August 31

Particulars

Budgeted/Standard Amount (in $)

Actual Amount (in $)

Variance Formula

Variance (in $)

Revenue

30375

26900

(= Actual - Standard)

3475(U)

Expenses:

      Packaging Supplies

2625

2795

(= Standard-Actual)

170(U)

      Oyster Bed Maintenance

3400

3260

(= Standard-Actual)

140(F)

      Wages and Salaries

5875

6285

(= Standard-Actual)

410(U)

      Shipping

4500

4230

(= Standard-Actual)

270(F)

      Utilities

1270

1080

(= Standard-Actual)

190(F)

      Other

565

1185

(= Standard-Actual)

620(U)

Total Expenses

18235

18835

(= Standard-Actual)

600(U)

Net Operating Income

12140

8065

(= Actual - Standard)

4075(U)

Quilcene Oysteria

Revenue and Spending Variances

For the month ended August 31

Particulars

Budgeted/Standard Amount (in $)

Actual Amount (in $)

Variance Formula

Variance (in $)

Revenue

30375

26900

(= Actual - Standard)

3475(U)

Expenses:

      Packaging Supplies

2625

2795

(= Standard-Actual)

170(U)

      Oyster Bed Maintenance

3400

3260

(= Standard-Actual)

140(F)

      Wages and Salaries

5875

6285

(= Standard-Actual)

410(U)

      Shipping

4500

4230

(= Standard-Actual)

270(F)

      Utilities

1270

1080

(= Standard-Actual)

190(F)

      Other

565

1185

(= Standard-Actual)

620(U)

Total Expenses

18235

18835

(= Standard-Actual)

600(U)

Net Operating Income

12140

8065

(= Actual - Standard)

4075(U)

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