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 (q) 7,500 Revenue ($4.05q) $ 30,375 Expenses: Packing supplies ($0.30q) 2,250 Oyster bed maintenance ($3,300) 3,300 Wages and salaries ($2,500 + $0.45q) 5,875 Shipping ($0.55q) 4,125 Utilities ($1,240) 1,240 Other ($460 + $0.019) 535 Total expense 17,325 Net operating income The actual results for August were as follows: Quilcene Oysteria Income Statement For the Month Ended August 31 $ 13,050 Actual pounds Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income Required: 7,500 $ 26,700 2,420 3,160 6,285 3,855 1,050 1,155 17,925 $ 8,775 Calculate the company's revenue and spending variances for August. Note: 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