Quilcene Oysteria farms and sells oysters in the Pacific Northwest The company harvested and sold 7200 pounds of oysters in August. The company's flexible budget for August appears below 7,200 $ 29,520 Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (a) Revenue (54.189) Expenses Packing supplies (50.300) Oyster bed maintenance ($3,388) Wages and salaries (52,200 + $0.254) Shipping (58.759) Utilities ($1,240) Other (5410 + $0.01) Total expense Net operating income The actual results for August appear below 2.160 3,300 4.000 5,400 1,240 482 16 582 $ 12,938 The actual results for August appear below Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,200 Revenue 5 27.100 Expenses: Packing supplies 2,330 Oyster bed maintenance 3,160 Wages and salaries 4,410 Shipping 5,130 Utilities 1,050 Other 1,102 Total expense 17.182 Net operating income $ 9,918 Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each vorionce by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts os positive values.) Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Revenue 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 os positive values.) Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Revenue Expenses Packing supplies Oyster bed maintonance Wages and salaries Shipping Utilities Other Total expense Net operating income