2 Quilicene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7700 pounds of oysters in August. The company's flexible budget for August appears below: points 7.700 5 31,570 BOOK Hint Print 3,000 3,100 5,280 5,390 1.210 527 18.587 $ 12.983 References Qullcene Oysterin Plexible budget For the Month Ended August 31 Actual pounda (9) Revenue (54.100) Expenses Packing supplies ($0.40) Oyster bed maintenance ($3,100) Wages and salaries ($2,200 + $0.400) Shipping ($0.709) Utilities ($1,210) Other ($450 + $0.019) Total expense Net operating income The actual results for August appear below: Quilene Oysteria Income Statement For the Month Ended August 31 Retual pounds 7.700 Revenue 5226,800 Expenses Packing supplies 3.250 Oyster bed maintenance 2.960 kages and salaries 5.590 Shipping 5, 120 Ulities 1,020 Other 1,147 Total expense 19,187 57,613 Net operating income Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by selecting favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) eBook Hint Print erences Qullcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Revenue Expenses Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income