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I need some help with this problem below: Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 8,000 pounds

I need some help with this problem below:

Quilcene Oysteria farms 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 Oysteria

Flexible Budget

For the Month Ended August 31

Actual pounds (q)........................................

Revenue ($4.00q).........................................

Expenses:

Packing supplies ($0.50q).......................

Oyster bed maintenance ($3,200)............

Wages and salaries ($2,900 + $0.30q).....

Shipping ($0.80q)....................................

Utilities ($830).........................................

Other ($450 + $0.05q).............................

Total expense...............................................

Net operating income..................................

8,000

$32,000

4,000

3,200

5,300

6,400

830

850

20,580

$11,420

The actual results for August appear below:

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..................................

8,000

$35,200

4,200

3,100

5,640

6,950

810

980

21,680

$13,520

Required:

Prepare a report showing the company's revenue and spending variances for August.

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