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 Actual pounds (9) 7.500 Revenue ($4.159) $31.125 Expenses: Packing supplies (50.409) 3,000 Oyster bed maintenance ($3,200) 3,200 Wages and salaries ($2,400 + $0.359) 5,025 Shipping (50.709) 5.250 Utilities ($1,250) 1,250 Other ($460 - $0.019) 535 Total expense 18, 260 Net operating income $12,865 The actual results for August were as follows: Quilcene Oysteria Income Statement For the Month Ended August 31 The actual results for August were as follows: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,500 $ 26,700 ook int Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 3,170 3,060 5,435 4,980 1,060 1, 155 18, 860 $ 7,840 rences Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by selec favorable, "U" for unfavorable, and "None" for no effect (.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" 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