Exercise 9-3 (Algo) Revenue and Spending Variances [LO9-3] Quilcene Oysteria 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: Outlcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (9) 7, 70e $ 32,725 2,695 Revenue (54.259) Expenses: Packing supplies ($0.350) Oyster bed maintenance ($3,300) Wages and salaries ($2,400 + $0.459) Shipping ($0.709) Utilities ($1,280) Other ($500 $0.019) Total expense Net operating income 3.300 5.865 5,39e 1, 28e 577 19, 187 $ 13,618 The actual results for August appear below: Qullcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,780 $ 27,480 Revenue Expenses: Packing supplies Oyster bed maintenance 2.865 3.160 nei 2 g The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,700 $ 27,400 Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 2.865 3,160 6,275 5.120 1.090 1,197 19,787 $ 7,693 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 (.e., zero variance). Input all amounts as positive values.) Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Revenue Expenses: Packing supplies Oyster bed maintenance to search Die 9 points Calculate the company's revenue and spending variances for August. (Indic favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variang 8 03:50:14 eBook Hint Print References 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