Exercise 9-2 (Algo) Prepare a Report Showing Revenue and Spending Variances [LO9-2] 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 (a) Revenue ($4.05q) 7,900 $31,995 Expenses: Packing supplies ($0.40g) 3,160 Oyster bed maintenance ($3,200) 3,200 Hages and salaries ($2,300 $0.40g) 5,460 Shipping ($0.60g) 4,740 Utilities ($1,250) 1,250 Other ($490 $0.010) 569 Total expense 18,379 Net operating income $ 13,616 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,900 Revenue $ 26,900 Expenses: Packing supplies. 3,330 Oyster bed maintenance 3,060 Hages and salaries 5,870 Shipping 4,470 Utilities 1,060 Other 1,189 Total expense 18,979 liet operating incore $7,921