Calculate the companys revenue and spending variances for August. Indicate the effect of each variance F for favorable, U for unfavorable, and None for no effect.

Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,900 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) 7,900 $ 31,995 Revenue ($4.059) Expenses: Packing supplies ($0.259) Oyster bed maintenance ($3,300) Wages and salaries ($2,200 + $0.309) Shipping ($0.659) Utilities ($1,280) Other ($400 + $0.019) Total expense Net operating income 1,975 3,300 4,570 5,135 1,280 479 16,739 $ 15, 256 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,900 $ 26,800 Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 2,145 3,160 4,980 4,865 1,090 1,099 17,339 $ 9,461 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