II 33 Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,500 pounds of oysters in August. The company's flexible budget for August appears below Quilcene Oysteria Flexible Budget For the Month Ended August 31 nts Actual pounds (q) 7,500 Revenue ($4.05q) Expenses: Packing supplies ($0.35q) Oyster bed maintenance Wages and salaries ($2,100 + $0.30q) Shipping ($0.75q) Utilities ($1,280) Other ($400 $0.01q) Total expense $30,375 eBook 2,625 3, 500 4, 350 Hint ($3,500) 5, 625 1,280 Print References 475 17,855 Net operating income $12,520 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,500 $27,200 Revenue Expenses: Packing supplies Oyater bed maintenance 2,795 3,360 4,760 Wages and salaries EE Mc Graw Hill 75% Type here to search Mages and salaries Shipping Utilities 4,760 5,355 1,090 Other Total expense 1,095 18,455 Net operating income $ 8,745 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 ces Revenue and Spending Variances. For the Month Ended August 31 Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 75% W here to search