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: 300 $ 120,000 Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (9) Revenue ($400.00) Expenses : Wages and salaries ($11,000 + $130.009) Supplies ($4.00) Equipment rental ($2,000 + $22.00g) Insurance ($4,000) Miscellaneous ($500 + $1.489) Total expense Net operating income 50,000 1,200 8,600 4,000 944 64, 744 $ 55, 256 During May, the company's actual activity was 290 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Actual diving-hours Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance 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: 8,000 $ 33,600 Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (g) Revenue ($4.20g) Expenses: Packing supplies ($0.359) Oyster bed maintenance ($3,300) Wages and salaries ($2,500 + $0.30g) Shipping ($0.659) Utilities ($1,240) Other ($490 + $0.019) Total expense Net operating income 2,800 3,300 4,900 5,200 1,240 570 18,010 $ 15,590 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 8,000 Revenue $ 27,400 Expenses : Packing supplies 2,970 Oyster bed maintenance 3,160 Wages and salaries 5,310 Shipping 4,930 Utilities 1,050 Other 1,190 Total expense 18,610 Net operating income $ 8, 790 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.)