ulcenc Oystna farms and sclls oysters in the rachc NorthWos: The company harvest

Question

ulcenc Oystna farms and sclls oysters in the rachc NorthWos: The company harvestod andsold 7.100 pounds of aystcrs In August The company's ficitic budgct for August apocars below Quicene Cycterla For the Morth Ended uçust 31 ctuzl pounds (a Packing supplies (50 35 3 200 1313_gll lillie. 1$.1,250) Other 8400+201o) 1 280 5 12424 Ihe acual resulls la Augusl appes beluw. Quicene Oyseri Acluel pounds 7,100 $ 27.400 2,655 upeliks Uyster bed malntcnancc wages and Salaries Shippling 011' 9,404 Not alculaie lhe companv s re enue ard enting vanances l Augus1 Indicate e effect o each variance b selectin "F"tor ta orabie, 'U tor unta orable, and one for n0 e ect l.e zero variance . Input al amounts as os ive values. Revena and Spending VarianCAR the Month Ended Packing upples Oyster bsd maintenance otal xpanse

Explanation / Answer

Actual Revenue and spending variances Flexible budget Revenue 27400 2420 U 29820 Expenses: Packing supplies 2655 170 U 2485 Oyster bed maintenance 3060 140 F 3200 Wages and salaries 5350 410 U 4940 Shipping 4700 270 F 4970 Utilities 1060 190 F 1250 Other 1171 620 U 551 Total expense 17996 600 U 17396 Net operating income 9404 3020 U 12424

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