contestada

Quilcene Oysteria 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 31
Actual pounds (q) 7,500
Revenue ($4.05q) $ 30,375
Expenses:
Packing supplies ($0.30q) 2,250
Oyster bed maintenance ($3,200) 3,200
Wages and salaries ($2,000 + $0.40q) 5,000
Shipping ($0.75q) 5,625
Utilities ($1,230) 1,230
Other ($430 + $0.01q) 505
Total expense 17,810
Net operating income $ 12,565

The actual results for August appear below:

Quilcene Oysteria
Income Statement
For the Month Ended August 31
Actual pounds 7,500
Revenue $ 27,300
Expenses:
Packing supplies 2,420
Oyster bed maintenance 3,060
Wages and salaries 5,410
Shipping 5,355
Utilities 1,040
Other 1,125
Total expense 18,410
Net operating income $ 8,890
Compute the company’s revenue and spending variances for August.

Respuesta :

cancinodavidq

Answer:

The answer and procedures of the exercise are attached in a microsoft excel document.

Explanation:

Notes:

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

  • UF indicates unfavourble condition  
  • F favourable condition
  • all revenue variance = actual revenues- budgeted revenues  
  • all spending variances = budgeted expenses- actual expenses

Ver imagen cancinodavidq

Otras preguntas