Exercise 9-3 (Algo) Revenue and Spending Variances (L09-3] Qulicene Oysterio farms and sells oysters in the Pacific Northwest. The company harvested and sold 7700 pounds of oysters in August. The company's flexible budget for August appears below: Que Oysteria Flexible budget Tor the Month Ended at 31 Actual pounds (9) 7.700 Revenue (54.2591 $31.955 Packing supplies to 2,310 Oyster bed maintenance $3.300) 3.300 Wager and starten (52,500 $0.6541 5,965 Shipping (60.659) 5,005 De tekst, 2001 Tasse Other (5410 50.010 Total expense 113.650 Set operating incon The actual results for August were as follows: Dulce Oynter Income statement To the Month Ended at 31 Metal pounds 7,700 Revenge $22.300 Expenses Jacks Supplies 2.480 Oyster bed maintenance 3.160 Nages and salaries 6.375 Shipping 6,735 ott 1.040 Other 1.107 Total expense Set operating in 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 ... zero variance). Input all amounts as positive values.) Tor the Month Ended August 31 Actual pounds 7,700 Revenue $ 27, 300 Expenses Packing supplies 2,480 Oyster bed maintenance 3, 160 Wages and salaries 6,375 Shipping 4,735 Ulities 1,040 Other 1, 107 Total expense 18,897 Set operating Income $ 3,403 Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by selecting "P" for favorable. "U" for unfavorable, and "None" for no effect (1.o., zero variance). Input all amounts as positive values.) Quilcone Oysteria Revenue and Spending Variances For the Month Ended August 31 Revenue Expertos Packing supplies Oyster bed maintenance Wages and salaries Shipping US Other Total expense Net Operating income