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 7,400 pounds of oysters in August . The company's flexible budget for August appears below: Quilcone Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (9) 7,400 $ 29,970 Revenue ($4.059) Expenses Packing supplies ($0.309) Oyster bed maintenance ($3,600) Wages and salaries ($2,400 + $0.309) Shipping ($0.659) Utilities ($1,280) Other (5490 + $0.019) Total expense Net operating income 2,220 3,600 4,620 4,810 1,280 564 17,094 $ 12,876 The actual results for August appear below: Quilcone Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,400 Revenue $ 26,700 Expenso Packing supplies 2,390 Oyster bod maintenance 3,460 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,400 $ 26,700 Revenue Expenses Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 2,390 3,460 5,030 4,540 1,090 1. 184 17,694 $ 9,006 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.e., zero varlance). Input all amounts as positive values.) Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Revenue Expenses Packing supplies Quilcene 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 operating income