Exercise 9-2 Prepare a Report Showing Revenue and Spending Variances [LO9-2] Quillcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,800 pounds of oysters in August. The company's flexible budget for August appears below: Oaileene Bateria Flexible Budget For the Month Ended August 31 Actual pounda (9) 7,800 $31,980 Revenge ($4.100) Expenses: Packing supplies ($0.30g) Oyster bed maintenance ($3,600) Wages and salaries ($2,500 + $0.459) Shipping ($0.759) Utilities ($1,210) Other ($420 + $0.019) Total expense Net operating income 2,340 3.600 6,010 5,850 1.210 19.500 $112,472 The actual results for August appear below: Caileene Oyuteria Income Statement For the Month Ended August 31 Actual pounds 7,000 $ 27.400 Revenue Expenses Packing supplies Oyuter bed maintenance Wages and salarien Shipping Utilitie Other Total expense 2.510 3.460 6.420 5.500 1.020 1.118 20,108 Quilene Oysteria Income statement For the Month Ended August 31 Actual pounds 7,800 $ 27,400 Revenue Expenses Packing supplies Oyster bed maintenance Wages and salarios Shipping Utilities Other Total expense Net operating income 2,510 3,460 6,420 5.580 1,020 1,118 20,100 $ 7.292 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 (1., zero variance). Input all amounts as positive values.) Quiloene Oysteria Revenue and Spending Variances For the Month Ended August 31 Revenue Expenses Packing Supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net opening income