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) Revenue ($4.20q) Expenses. 7,500 $ 31,500
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- Cloud Shoes manufactures recovery sandals and is planning on producing 12.000 units in March and 11,500 in April. Each sandal requires 1.2 yards if material, which costs $3.00 per yard. The companys policy is to have enough material on hand to equal 15% of next months production needs and to maintain a finished goods inventory equal to 20% of the next months production needs. What is the budgeted cost of purchases for March?Lens & Shades sells sunglasses for $37 each and is estimating sales of 21,000 units in January and 19,000 in February. Each lens consist of 2.00 mm of plastic costing $2.50 per mm, 1.7 oz of dye costing $2.80 per ounce. and 0.50 hours direct labor at a labor rate of $18 per unit. Desired inventory levels are: Prepare a sales budget, production budget, direct materials budget for silicon and solution, and a direct labor budget.Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,300 pounds of oysters in August. The company's flexible budget for August appears below: Actual pounds (q) Revenue ($4.15q) Expenses: Packing supplies ($0.35q) Oyster bed maintenance ($3,400) Wages and salaries ($2,400 + $0.40g) Shipping ($0.55q) Utilities ($1,240) Quilcene Oysteria Flexible Budget For the Month Ended August 31 Other ($470 + $0.01g) Total expenses Net operating income The actual results for August were as follows: Actual pounds Revenue Expenses: Quilcene Oysteria Income Statement For the Month Ended August 31 Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expenses Net operating income 7,300 $ 30,295 2,555 3,400 5,320 4,015 1,240 543 17,073 $ 13,222 7,300 $ 27,000 2,725 3,260 5,730 3,745 1,050 1,163 17,673 $ 9,327
- Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,300 pounds of oysters in August. The company's flexible budget for August appears below: Actual pounds (q) Revenue ($4.15g) Expenses: Packing supplies ($0.30q) Oyster bed maintenance ($3,500) Wages and salaries ($2,600 + $0.25q) Shipping ($0.75g) Utilities ($1,270) Other ($500 + $0.01q) Total expense Net operating income Actual pounds Revenue The actual results for August were as follows: Expenses: For the Month Ended August 31 Quilcene Oysteria Flexible Budget Quilcene Oysteria Income Statement For the Month Ended August 31 Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 7,300 $ 30,295 Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 2,190 3,500 4,425…HELP MEQuilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 8,000 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) Revenue ($4.20q) Expenses: Packing supplies ($0.359) Oyster bed maintenance ($3,200) Wages and salaries ($2,300 + $0.309) Shipping ($0.709) Utilities ($1,280) Other ($450 + $0.019) Total expenses Net operating income The actual results for August were as follows: Quilcene Oysteria Income Statement For the Month Ended August 31 8,000 $ 33,600 2,800 3,200 4,700 5,600 1,280 530 18,110 $ 15,490 Actual pounds Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expenses Net operating income Required: 8,000 $ 27,100 2,970 3,060 5,110 5,330 1,090 1,150 18,710 $ 8,390 Calculate the company's revenue and spending variances for August. Note: Indicate the effect of each…
- Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,100 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) Revenue ($4.10g) 7,100 $ 29,110 Expenses: Packing supplies ($0.35q) Oyster bed maintenance ($3,300) Wages and salaries ($2,500 + $0.30q) Shipping ($0.55g) Utilities ($1,230) Other ($440 + $0.01q) Total expense 2,485 3,300 4,630 3,905 1,230 511 16,061 $ 13,049 Net operating income The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,100 Revenue $ 27,500 Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping 2,655 3,160 5,040 3,635 1,040 1,131 Utilities Other 16,661 $ 10,839 Total expense Net operating income Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by…Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,900 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 (g) Revenue ($4.05g) Expensess Packing supplies ($0.35g) Oyster bed maintenance ($3,200) Hages and salaries ($2,400+ $0.50g) Shipping ($0.75g) Utilities ($1,280) Other (8420 $0.01g) Total expense Net operating income The actual results for August appear below: Quilcene Dyateria Income Statement For the Month Ended August 31 Revenue Expenses: Actual pounds Packing supplien Oyster bed maintenance. Mages and salaries Shipping Dellities Other Total expense Bet operating income 7,900 27,300 2,935 3,060 6,760 5,655 1.090 20.619 6,401 7,900 $31,995 2,765 3,200 6,350 5,925 1,280 499 20,019 $ 11,976 Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by selecting "F"…Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,400 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 (9) Revenue ($4.20q) Expenses: Packing supplies ($0.309) Oyster bed maintenance ($3,180) Wages and salaries ($2,300 + $0.25q) Utilities ($1,250) Shipping ($0.750) Other ($460 +$0.019) Total expense Net operating income The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 7,400 $ 31,080 2,220 3,100 4,150 5,550 1,250 534 16,804 $ 14,276 Packing supplies Wages and salaries Actual pounds Revenue Expenses: 7,400 $ 27,300 2,390 Oyster bed maintenance. 2,960 4,560 5, 280 1,060 1,154 17,404 $ 9,896 Shipping Utilities Other Total expense Net operating income Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by…
- Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,100 pounds of oysters in Augus The company's flexible budget for August appears below: Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (q) Revenue ($4.15q) Expenses: Packing supplies ($0.35q) Oyster bed maintenance ($3,100) Wages and salaries ($2,500 + $0.35q) Shipping ($0.55q) Utilities ($1,290) Other ($480 + $0.019) Total expense Net operating income The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 7,100 $ 29,465 2,485 3,100 4,985 3,905 1,290 551 16,316 $ 13,149 Actual pounds 7,100 Revenue $ 27,000 Expenses: Packing supplies 2,655 Oyster bed maintenance 2,960 Wages and salaries 5,395 3,635 1,100 1,171 16,916 Shipping Utilities Other Total expense Net operating income. Required: $ 10,084 Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by…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 (g) Revenue ($4.10g) 7,500 $ 30,750 Expenses: Packing supplies ($0.30g) Oyster bed maintenance ($3,200) Wages and salaries ($2,600 + $0.40g) Shipping ($0.65g) Utilities ($1,250) Other ($460 + $0.01g) Total expense 2,250 3,200 5,600 4,875 1,250 535 17,710 $ 13,040 Net operating income The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,500 $ 27,000 Revenue Expenses: Packing supplies öyster bed maintenance Wages and salaries Shipping 2,420 3,060 6,010 4,605 1,060 Utilities 1,155 18,310 Other Total expense $ 8,690 Net operating income Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by…Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,100 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) Revenue ($4.20q) 7,100 $ 29,820 Expenses: Packing supplies ($0.25q) 1,775 Oyster bed maintenance ($3,300) 3,300 Wages and salaries ($2,200 + $0.45q) 5,395 Shipping ($0.609) 4,260 Utilities ($1,230) 1,230 Other ($450 + $0.019) 521 Total expense 16,481 $ 13,339 Net operating income The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,100 Revenue $ 26,900 Expenses: Packing supplies 1,945 Oyster bed maintenance 3,160 5,805 3,990 1,040 1,141 17,081 Wages and salaries Shipping Utilities Other Total expense Net operating income Required: $ 9,819 Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by…