Question 34: 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) ........... 8,000 Revenue ($4.00q) ......... $32,000 Expenses: Packing supplies ($0.50q) .......... 4,000 Oyster bed maintenance ($3,200) ............ 3,200 Wages and salaries ($2,900 + $0.30q) ..... 5,300 Shipping ($0.80q) ............. 6,400 Utilities ($830) ............... 830 Other ($450 + $0.05q). 850 Total expense ........ 20,580 Net operating income ..... $11,420 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds .... 8,000 Revenue ....... $35,200 Expenses: Packing supplies.............. 4,200 Oyster bed maintenance .. 3,100 Wages and salaries. 5,640 Shipping . 6,950 Utilities ........ 810 Other.............. 980 Total expense ......... 21,680 Net operating income ........ $13,520 Required: Prepare a report showing the company's revenue and spending variances for August