Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company's planning budget for May appears below: 350 $ 161,000 Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (9) Revenue ($460.000) Expenses: Wages and salaries ($11,700 + $128.009) Supplies ($6.000) Equipment rental ($2,300 + $ 21.009) Insurance ($4,100) Miscellaneous ($540 + $1.489) Total expense Net operating income 56,500 2,100 9,650 4,100 1,058 73,408 $ 87,592 During May, the company's actual activity was 340 diving-hours. During May, the company's actual activity was 340 diving hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income 0 $ 0 Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7.300 pounds of oysters in August. The company's flexible budget for August appears below: 7,300 $ 30,295 Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (9) Revenue $4.159) Expenses : Packing supplies ($0.389) Oyster bed maintenance (53,380) Wages and salaries ($2,000 + $0.499) Shipping ($0.600) Utilities ($1,250) other ($470 + $0.019) Total expense Net operating income 2,190 3,300 4,920 4,380 1,250 54 16,583 $ 13,712 The actual results for August were as follows: 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 2.360 3, 160 AL 5. 338 4,110 1,060 1163 17,183 $ 9,617 WILL 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 (.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 Utilities Other Total expense Net operating income