04 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 Tor the Month Ended August 31 Actual pounds (9) 7,500 Revenue ($4.159) 5:31.125 Expenses Packing supplies (50.350) 2,625 Oyster bed maintenance ($3,100) 3.100 Wages and salaries (52,100+ $0.359) 4,725 Shipping (50.100) 6,000 Utilities (51.200) 1.200 Other (5480 - 50.010) 555 Total expense 18,205 Hot operating income $12,920 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,500 $ 26,700 Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense 2,795 2,960 5,135 5,730 1,010 1,175 18,805 $ 7,895 Net operating income Required: Calculate 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 (.e., zero variance). Input all amounts as positive values.) 23:36 Quilcone Oysteria Revenue and Spending Variances For the Month Ended August 31 Revenue ances Expenses Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expertise Net operating income