Exercise 9-2 Prepare a Report Showing Revenue and Spending Varlances [LO9-2] * Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7800 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) 7,880 Revenue ($4.189) $ 31,989 Expenses: Packing supplies (50.300) 2,340 Oyster bed maintenance ($3,600) 3,600 Wages and salaries ($2,400 + $0.389) 4,740 Shipping (58.7e) 5,460 Utilities ($1,260) 1,260 Other (5440 + $0.019) 518 Total expense 17,918 Net operating income $ 14,062 47 es The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,800 $ 26,880 Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 2,510 3,460 5,15e 5,190 1,070 1,138 18,518 $ 8,282 $ 26,800 Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 2,51e 3,460 5,150 5,190 1,070 1,138 18,518 $ 8,282 Required: Calculate the company's revenue and spending variances for August (Indicate the effect of each verlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance). Input all amounts os positive values.) 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