3 Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,200 pounds of oysters in August. The company's flexible budget for August appears below: Quilenne Oysteria Flexible Budget For the Month Unded August 31 Actual pounds (9) 7,200 Revenue ($4.200) $ 30,240 Expenses Packing supplies ($0.359) 2,520 Oyster bed maintenance ($3,000) 3,000 Wages and walaries ($2,300 + $0.259) 4,100 Shipping ($0.75g) 5,400 Utilities ($1,230) 1,230 other ($400 + $0.019) 472 Total expense 16,722 Net operating Income $13,518 DOK int rences The actual results for August were as follows: Quilcone Oyuterin Income Statement For the Month Ended August 31 Actual pounds 7,200 Revenue 527.000 Expenses Packing supplies 2,690 Oyster bed maintenance 2.860 Wages and salaries 4,510 Shipping 5.130 Utilities 1,040 Other 1,092 Total expense 17,322 59,678 Net operating income Total expense 17,322 $ 9,678 Net operating income Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by selecting "F" favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) 3 ncos Qulioene 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