Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,700 pounds of oysters in August. The companys flexible budget for August appears below:

Required:

Calculate the companys 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 farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,700 pounds of oysters in August. The company's flexible budget for August appears below: 7,700 $ 31,955 2,695 Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (9) Revenue ($4.159) Expenses: Packing supplies ($0.35) Oyster bed maintenance ($3,600) Wages and salaries ($2,200 + $0.40) Shipping ($0.659) Utilities ($1,220) Other ($480 + $0.019) Total expense Net operating income 3,600 5,280 5,005 1,220 557 18,357 $ 13,598 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,700 Revenue $ 27,000 Expenses : Packing supplies 2,865 Oyster bed maintenance 3,460 Wages and salaries Shipping 4,735 Utilities 1,030 Other 1,177 Total expense 18,957 $ 8,043 Net operating income 5,690 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.)