Exercise 9-3 (Algo) Revenue and Spending Variances (LO9-3] Qullcene Oysteria forms and sells oysters in the Pacific Northwest. The company harvested and sold 8,000 pounds of oysters in August. The company's flexible budget for August appears below: Quilcene Oysterin Flexible Budget For the Month Inded August 31 Actual pounds (9) 8,000 Revenue ($4.159) S 33,200 Expenses Packing supplien (80.359) 2,800 Oyster bed maintenance ($3,500) 3,500 Wages and salaries ($2,300 + $0.300) 4,700 Shipping ($0.600) 4,800 Utilities ($1,230) 1,230 Other ($490 + $0.019) 570 Total expense 17,600 Net operating income 5.15,600 The actual results for August were as follows: 8,000 $ 27,400 Quilcone Oysteria Income statement For the Month Ended August 31 Actual pounds Revenue Expenses Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 2,970 3,360 5,110 4,530 1.040 1,190 18,200 $ 9,200 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 (i.e., zero variance). Input all amounts as positipe values.) Quilcene Oysteria Revenue and Spending Variances The actual results for August were as follows: 8,000 $ 27,400 59:01 Quilcene Oysteria Income Statement For the Month Ended August 31 actual pounds Revenue Expenses: Packing supplies oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 2,970 3.360 5, 110 4,530 1.040 1,190 18,200 $ 9,200 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, 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 Net operating income