3 20 points Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7400 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) 7,400 Revenue (54.209) $ 31,080 Expenses Packing supplies (50.254) 1,850 Oyster bed maintenance ($3,400) 3,400 Wages and salaries (52,500 + $0.350) 5,090 Shipping (50.550) 4,070 Utilities (51,240) 1,200 Other (5480.se.019) 554 Total expense 16,204 Net operating income $ 14,876 eBook Hint Print The actual results for August appear below References Quilcone Oysteris Income Statement For the Month Ended August 31 Actual pounds 7,400 $ 27200 Revenue Expenses: Packing Supplies Oyster bed maintenance Wages and salaries Shippine Utilities Other Total expense Net operating income 2,020 3,260 5,500 3,500 1.050 1.174 16. $ 10, 396 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 (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