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 7,500 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 (g) Revenue ($4.15g) Expenses: Packing supplies ($0.30g) Oyster bed maintenance ($3,600) Wages and salaries ($2,000+ $0.35g) Shipping ($0.70g) Utilities ($1,240) Other ($450 + $0.01g) Total expense Net operating income The actual results for August were as follows: Quilcene Oysteria Income Statement For the Month Ended August 31 7,500 $ 31,125 2,250 3,600 4,625 5,250 1,240 525 17,490 $ 13,635 Actual pounds Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 7,500 $ 26,800 2,420 3,460 5,035 4,980 1,050 1,145 18,090 $ 8,710