Exercise 9-3 Revenue and Spending Variances (LO9-3] Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,600 pounds of oysters in August. The company's flexible budget for August appears below: points eBook Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (g) Hint 7,600 $ 32,300 Print References Revenue ($4.259) Expenses : Packing supplies ($0.40) Oyster bed maintenance ($3,100) Wages and salaries ($2,300 + $0.259) Shipping ($0.759) Utilities ($1,300) Other ($450 + $0.019) Total expense Net operating income 3,040 3,100 4,200 5,700 1,300 526 17,866 $ 14,434 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,600 20 points $ 26,500 eBook Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income Hint 3,210 2,960 4,610 5,430 1,110 1,146 18,466 $ 8,034 Print References 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 positive values.) Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping