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 7400 pounds of oysters in August The company's flexible budget for August appears below: Quiloene Oysteria Texible Budget Tor the Month Ended lagunt Actual pounds (9) 7.400 Revenue (54.150) 530.210 Expenses Packing supplies (50.350) 2.590 Oyster bed maintenance (53,300) 3,300 Wages and salaries (52.300.50.4593 5.630 Shipping (50.800) 5.920 Utilities (51,260) 1.260 Other (5440 50.019) 514 Total expense 19-214 Net operating income 5119496 The actual results for August were as follows: Dolcene Oysteria Income Statement Yor the Month Mided at 31 Actual pounds 7.400 Ravenue 5.26.500 Expenses Packing supplies 2.760 Oyster bed maintenance 3.160 Wages and salaries 6,040 Shipping 5.630 Utilities 1.670 Other 1.234 Total expenso 19.014 Het operating income $7.006 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 (le, sero variance). Input all amounts as positive values.) Qurcene Oysteria Revenue and Spending Variances For the Month Ended Augusta Revenue Expenses Packing supplies Oyster bed maintenance Wages and sales Shipping Us Other Total expense Net operating income