Ch 9 : Flexible Budgets & Performance Analysis Sa met Check 13 Exercise 9-3 (Algo) Revenue and Spending Variances (L09-3] 162 point Qullcene Oysterta forms 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: Quitcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (9) 7,400 Revenue (54.059) $ 29,070 Expenses Packing supplies (50.359) 2,590 Oyster bed maintenance ($3,500) 3,500 Wages and salaries (52,200 + 50.400) 5,160 Shipping (50.759) 5.550 Utilities ($1,260) 1,260 Other (5480 - 50.019) Total expense 10,614 Net operating income 511,356 HE The actual results for August were as follows: Quone Oysteria Incose statement For the Month Ended August 1 Actual pounds 7.400 Revenue 527,000 Expenses: Packing supplies 2,760 Oyster bed maintenance 3,360 Wages and salaries Shipping utilities 1,070 Other 1.174 Total expense 57.786 3,570 5,20 13 Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 2,760 3,360 5,570 5,280 1,070 1, 174 19,214 $ 7,786 162 points Sicoped Required: Calculate the company's revenue and spending variances for August. (Indicate the effec favorable, "U" for unfavorable, and "None" for no effect fi.e., zero variance). Input alla Book Hin Quilone Oysticia Revenue and Spending Variances For the Month Ended August 31 Revenue Expenses Packing supplies Oyster bed maintenance Wages and salaries Shipping Uits Other Total experto Net operating income Me GE