Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,800 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) 7,800 Revenue ($4.25q) $ 33,150 Expenses: Packing supplies ($0.40q) 3,120 Oyster bed maintenance ($3,300) 3,300 Wages and salaries ($2,100 + $0.30q) 4,440 Shipping ($0.75q) 5,850 Utilities ($1,250) 1,250 Other ($480 + $0.019) 558 Total expense 18,518 $ 14,632 Net operating income The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,800 Revenue $ 27,500 Expenses: Packing supplies 3,290 Oyster bed maintenance 3,160 Wages and salaries 4,850 Shipping 5,580 Utilities Other 1,060 1,178 Total expense 19,118 Net operating income $ 8,382 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.) 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.) Revenue Expenses: Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income