Exercise 9-3 Revenue and Spending Variances (LO9-3] Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7.200 pounds of oysters in August. The company's flexible budget for August appears below: Quilcene Oysteria Plexible Budget For the Month Inded August 31 Actual pounds (9) 7,200 Revenue ($4.259) $ 30, 600 Expenses Packing supplies ($0.259) 1,800 Oyster bed maintenance ($3,000) 3,000 Wages and salaries ($2,100 + $6.459) 5,340 Shipping ($0.709) 5,040 Utilities ($1,230) 1,230 Other ($440 + $0.019) 512 Total expense 16,922 $ 13,678 Net operating income The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,200 Revenue $ 27, 100 Expenses Packing supplies 1,970 Oyster bed maintenance 2,860 Wages and salaries 5,750 Shipping 4,770 Utilities 1,040 Other 1,132 Total expense 17,522 Net operating income $ 9,578 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.)