Exercise 9-2 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: Quilcone Bystri Flexible Hundet Toe the Month Ended A1 Actual pounds (a) 29, 110 Revenue (54.100) Expenses Packing supplies (50.359) Oyster bed maintenance ($3,100) Wages and salaries ($2,100 $0.304) Shipping (50.554) utilities (51,230) Other ($450.50.01) Total expense Net operating income 2,485 3.100 4,230 1,905 1.2.30 521 15,471 $ 13,639 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,100 $ 26,000 Revenue Expensest Packing supplies Oyster bed maintenance 2,655 2.96 2 The actual results for August appear below: Book Oulle Oysteria Income Statement For the Month Ended ME 31 Actual pounds 7,100 Revenue $ 26,60 Expenses: Packing supplies 2,655 Oyster bed maintenance Hages and salaries Shipping 3.635 Utilities 1,040 Other 1,141 Total expense Net operating income $ 10,529 Print Terences 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 Oysteri Revenue and Spending Variances For the Month Ended August 31 Revenue Expenses Packing supplies Oyster bed maintenance Wages and sales