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) Revenue ($4.05q) Expenses: Packing supplies ($0.35q) Oyster bed maintenance ($3,300) Wages and salaries ($2,200 + $0.35q) Shipping ($0.55q) Utilities ($1,210) Other ($470 + $0.019) Total expense Net operating income The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,500 Revenue $ 26,800 Expenses: Packing supplies 2,795 Oyster bed maintenance. 3,160 Wages and salaries 5,235 Shipping 3,855 Utilities 1,020 Other 1,165 17,230 $ 9,570 7,500 $ 30,375 2,625 3,300 4,825 4,125 1,210 545 16,630 $ 13,745 Total expense Net operating income 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.) Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Revenue Expenses: Packing supplies Oyster bed maintenance Revenue ($4.059) Expenses: Packing supplies ($0.35q) Oyster bed maintenance ($3,300) Wages and salaries ($2,200+ $0.35q) Shipping ($0.55q) Utilities ($1,210) Other ($470 +$0.019) Total expense Net operating income The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 7,500 $ 26,800 2,795 3,160 5,235 3,855 1,020 1,165 17,230 $ 9,570 $ 20,313 2,625 3,300 4,825 4,125 1,210 545 16,630 $ 13,745 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.) 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 Revenue ($4.059) Expenses: Packing supplies ($0.35q) Oyster bed maintenance ($3,300) Wages and salaries ($2,200+ $0.35q) Shipping ($0.55q) Utilities ($1,210) Other ($470 +$0.019) Total expense Net operating income The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 7,500 $ 26,800 2,795 3,160 5,235 3,855 1,020 1,165 17,230 $ 9,570 $ 20,313 2,625 3,300 4,825 4,125 1,210 545 16,630 $ 13,745 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.) 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