Exercise 9-2 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 7,100 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 $ 29,820 Revenue (54.209) Expenses Packing supplies (50.309) Oyster bed maintenance ($3,200) Wages and salaries ($2,100 + 50.359) Shipping ($0.759) Utilities (51,220) Other ($450 + $0.019) Total expense Net operating income 2.130 3,200 4,585 5,325 1, 220 52: 16,931 $ 12,839 The actual results for August appear below!