Exercise 9-2 Prepare a Report Showing Revenue and Spending Variances (L09-2] 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 (9) 7.900 $32,390 Revenue ($4.189) Expenses: Packing supplies (50.300) Oyster bed maintenance ($3,300) Wages and salaries ($2,400 50.300) Shipping (se. 759) Utilities ($1,270) Other ($450 + $0.019) Total expense Net operating income 2,370 3,300 4,778 5,925 1,270 529 18,164 $14,226 The actual results for August appear below. Quitcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,900 522280 Revenge