Chapter 9 - Homework 12. Exercise 9.3 Revenue and Spending Variances (LO9-3) Qulicene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7.400 pounds of oysters in August. The company's flexible budget for August appears below: 0.66 points Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (9) eBook 7,400 $ 31,080 2,22e Revenue (54.209) Expenses: Packing supplies ($0.389) Oyster bed maintenance ($3,000) Wages and salaries ($2,500 + $0.309) Shipping ($0.759) Utilities ($1,200) Other ($510 + $0.019) Total expense Het operating income 17274 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,460 Revenue $ 26,900 Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shiroine Chapter 9 - Homework 12 Net operating income The actual results for August appear below. 0.66 Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,400 eBook Print Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 2,390 2,850 5.13 5.280 References 1,284 $ 9,026 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 effectie, zero variance). Input all amounts as positive values.) Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Revenge Packing supplies 1917 1 Chapter 9 - Homework 12 Other Total expense Net operating income $ 9,026 0.66 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 (e., zero variance). Input all amounts as positive values.) Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Packing supplies Oyster bed matenance Wages and sales Us Total expense Net operating income