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Quilcene oysteria farms and sells oysters in the pacific

18/11/2021 Client: muhammad11 Deadline: 2 Day

TEXTBOOK PROBLEMS

Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company’s planning budget for May appears below:

Puget Sound Divers Planning Budget For the Month Ended May 31

Budgeted diving-hours (q)

250

Revenue ($390.00q)

$

97,500

Expenses:

Wages and salaries ($11,900 + $122.00q)

42,400

Supplies ($4.00q)

1,000

Equipment rental ($2,300 + $23.00q)

8,050

Insurance ($4,200)

4,200

Miscellaneous ($520 + $1.46q)

885

Total expense

56,535

Net operating income

$

40,965

Required:

During May, the company’s activity was actually 240 diving-hours. Complete the following flexible budget for that level of activity.

2.

value: 10.00 points

Flight Café is a company that prepares in-flight meals for airlines in its kitchen located next to the local airport. The company’s planning budget for July appears below:

Flight Café Planning Budget For the Month Ended July 31

Budgeted meals (q)

21,000

Revenue ($3.80q)

$

79,800

Expenses:

Raw materials ($2.20q)

46,200

Wages and salaries ($6,200 + $0.20q)

10,400

Utilities ($1,900 + $0.05q)

2,950

Facility rent ($3,100)

3,100

Insurance ($2,700)

2,700

Miscellaneous ($700 + $0.10q)

2,800

Total expense

68,150

Net operating income

$

11,650

In July, 22,000 meals were actually served. The company’s flexible budget for this level of activity appears below:

Flight Café Flexible Budget For the Month Ended July 31

Budgeted meals (q)

22,000

Revenue ($3.80q)

$

83,600

Expenses:

Raw materials ($2.20q)

48,400

Wages and salaries ($6,200 + $0.20q)

10,600

Utilities ($1,900 + $0.05q)

3,000

Facility rent ($3,100)

3,100

Insurance ($2,700)

2,700

Miscellaneous ($700 + $0.10q)

2,900

Total expense

70,700

Net operating income

$

12,900

Required:

1.

Compute the company’s activity variances for July. (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 as positive values.)

3.

value: 10.00 points

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 (q)

7,900

Revenue ($4.25q)

$

33,575

Expenses:

Packing supplies ($0.25q)

1,975

Oyster bed maintenance ($3,200)

3,200

Wages and salaries ($2,300 + $0.45q)

5,855

Shipping ($0.55q)

4,345

Utilities ($1,260)

1,260

Other ($490 + $0.01q)

569

Total expense

17,204

Net operating income

$

16,371

The actual results for August appear below:

Quilcene Oysteria Income Statement For the Month Ended August 31

Actual pounds

7,900

Revenue

$

26,700

Expenses:

Packing supplies

2,145

Oyster bed maintenance

3,060

Wages and salaries

6,265

Shipping

4,075

Utilities

1,070

Other

1,189

Total expense

17,804

Net operating income

$

8,896

Required:

Compute the company’s revenue and spending variances for August. (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 as positive values.)

4.

value: 10.00 points

Selected operating data for two divisions of Outback Brewing, Ltd., of Australia are given below:

Division

Queensland

New South Wales

Sales

$

1,080,000

$

2,385,000

Average operating assets

$

600,000

$

530,000

Net operating income

$

70,200

$

83,475

Property, plant, and equipment (net)

$

241,000

$

191,000

Required:

1.

Compute the rate of return for each division using the return on investment (ROI) formula stated in terms of margin and turnover. (Round your answers to 2 decimal places.)

2.

Which divisional manager seems to be doing the better job?

Queensland division

New South Wales division

5.

value: 10.00 points

A planning budget is prepared before the period begins and is valid for whatever the actual level of activity turns out to be.

True

False

6.

value: 10.00 points

Comparing a static planning budget to actual costs is a good way to assess whether variable costs are under control.

True

False

7.

value: 10.00 points

A balanced scorecard consists of an integrated set of performance measures that are derived from and support a company’s strategy.

True

False

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