2. value: 1.50 points 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 (9) Revenue ($4.109) 7,500 $ 30,750 Expenses: Packing supplies ($0.359) Oyster bed maintenance ($3,400) Wages and salaries ($2,400 + $0.409) Shipping (S0.659) Utilities ($1,230) Other ($410 + $0.019) 2,625 3,400 5,400 4,875 1,230 485 Total expense 18,015 Net operating income $ 12,735 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,500 Revenue $ 26,500 Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities 2,795 3,260 5,810 4,605 1,040 1,105 Other Total expense 18,615 Net operating income $ 7,885 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.) Quilcene 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