Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,100 pounds of oysters in August. The companys flexible budget for August appears below:

Required: 1. Calculate the company's activity variances for July. (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.) Flight Caf Activity Variances For the Month Ended July 31 Revenue Expenses: Raw materials Wages and salaries Utilities Facility rent Insurance Miscellaneous Total expense Net operating income Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,100 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) 7,100 $ 30,175 Revenue ($4.259) Expenses: Packing supplies ($0.359) Oyster bed maintenance ($3,200) Wages and salaries ($2,200 + $0.359) Shipping ($0.709) Utilities ($1,240) Other ($500 + $0.019) Total expense Net operating income 2,485 3,200 4,685 4,970 1,240 571 17, 151 $ 13,024 The actual results for August were as follows: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,100 $ 27, 200 Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 2,655 3,060 5,095 4,700 1,050 1,191 17,751 $ 9,449