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Olympia Bivalve farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,500 pounds of oysters in July. The companys flexible budget for July appears below:

Olympia Bivalve Flexible Budget For the Month Ended July 31
Actual pounds (q)		7,500
Revenue ($4.15q)	$	31,125
Expenses:
Packing supplies ($0.35q)		2,625
Oyster bed maintenance ($3,400)		3,400
Wages and salaries ($2,100 + $0.30q)		4,350
Shipping ($0.75q)		5,625
Utilities ($1,260)		1,260
Other ($400 + $0.01q)		475
Total expense		17,735
Net operating income	$	13,390

The actual results for July appear below:

Olympia Bivalve Income Statement For the Month Ended July 31
Actual pounds		7,500
Revenue	$	26,600
Expenses:
Packing supplies		2,795
Oyster bed maintenance		3,260
Wages and salaries		4,760
Shipping		5,355
Utilities		1,070
Other		1,095
Total expense		18,335
Net operating income	$	8,265

Required:

Compute the companys revenue and spending 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.)

Olympia Bivalve
Revenue and Spending Variances
For the Month Ended July 31
Revenue
Expenses:
Packing supplies
Oyster bed maintenance
Wages and salaries
Shipping
Utilities
Other
Total expense
Net operating income