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 7,200 pounds of oysters in August. The company's flexible budget for August appears below: The actual results for August appear below: Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by selecting "F" for \begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ Quilcene Oysteria } \\ \hline \multicolumn{2}{|c|}{ Revenue and Spending Variances } \\ \hline Rovenue & \\ \hline Expenses: & \\ \hline Packing supplies & \\ \hline Oyster bed maintenance & \\ \hline Wages and salaries & \\ \hline Shipping & \\ \hline Utilities & \\ \hline Other & \\ \hline Total expense & \\ \hline Net operating income & \\ \hline \end{tabular}