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 7,500 Actual pounds (q) 31,875 Revenue ($4.25q) Expenses: Packing supplies ($0.30q) Oyster bed maintenance ($3,100) Wages and salaries ($2,300 +$0.45q) Shipping ($e.65q) Utilities ($1,280) Other ($480+$e.01g) Total expense 2,250 3,100 5,675 4,875 1,280 555 17,735 14,140 Net operating income The actual results for August appear below Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,500 Revenue $26,600 Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other 2,420 2,960 6,085 4,605 1,090 1,175 18,335 $ 8,265 Total expense Net operating income Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by selecting "F" for fevorable, "U" for unfevorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) 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 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