Exercise 9-3 Prepare a Report Showing Revenue and Spending Variances LO9-3] Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,100 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 (q) Revenue ($4.20q) 7,100 $29,820 Expenses Packing supplies ($0.25q) Oyster bed maintenance ($3,400) Wages and salaries ($2,100$0.45q) Shipping ($0.80q) Utilities ($1,230) Other ($420$0.01q) 1,775 3,400 5,295 5,680 1,230 491 Total expense 17,871 Net operating income $11,949