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 7100 pounds of oysters in August. The company's flexible budget for August appears below: Quficene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (e) 7,100 Revenue ($4.159) $.29,465 Expenses: Packing supplies (50.35) 2,485 Oyster bed maintenance (53,000) 3,000 Wages and salaries ($2,300 + $0.259) 4,075 Shipping ($9.609) 4,269 Utilities (51,280) 1,280 Other ($480 + $0.019) 551 Total expense 15,651 Net operating income $ 13,814 The actual results for August were as follows The actual results for August were as follows: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,100 Revenue $ 27,200 Expenses: Packing supplies 2,655 Oyster bed maintenance 2,868 Wages and salaries 4,485 Shipping 3,990 Utilities 1,090 Other 1,171 Total expense 16, 251 Net operating income $ 10,949 Required: 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 (l.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 Wages and salarios Shipping Utilities Other Total expense Not operating income