Exercise 9-2 (Algo) Prepare a Report Showing Revenue and Spending Variances (LO9-2] Qullcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7100 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) 7.100 Revenue (54.100) $ 29, 110 Expenses Packing supplies (50.300) 2,130 Oyster bed maintenance ($3,500) 3,500 Hages and salaries ($2,200 + $0.459) 5,395 Shipping (50.709) 4,970 Utilities (51.230) 1,230 Other (5440 + $0.019) 511 Total expense 17.736 Net operating income 5 11.374 The actual results for August appear below: Quilcene Oysteria Income statement For the Month Ended August 31 actual pounde 7,100 Revenue 527,200 Expenses Packing supplies 2.300 Oyster bed maintenance 0,360 Wages and salaries 5.805 Other 2,131 Total expense 18,336 Net operating income $ 8,864 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 salarios Shipping Utilities Other Total expense Not operating incomo