Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 8,000 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 ($4.20q) 5,000 $33,600 Expenses: Packing supplies ($0.35q) 2,800 Oyster bed maintenance ($3,200) 3,200 Wages and salaries ($2,200 + $0.45q) 5,800 Shipping ($0.604) 4,800 Utilities ($1,290) 1,290 Other ($490+$0.014) 578 Total expense 18,460 $ 15,140 Net operating income The actual results for August were as follows: 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 Required: 8,000 $ 27,200 2,970 3,060 6,210 4,530 1,100 1,190 19,060 $8,140 Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by selecting "P" for favorable, "U" for unfavorable, and "None" for no effect (ie., 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 Alyeski Tours operates day tours of coastal glaciers in Alaska on its tour boat the Blue Glacier. Management has identified two cost drivers-the number of cruises and the number of passengers-that it uses in its budgeting and performance reports. The company publishes a schedule of day cruises that it may supplement with special sailings if there is sufficient demand. Up to 80 passengers can be accommodated on the tour boat. Data conceming the company's cost formulas appear below. Vessel operating costs Advertising Administrative costs Insurance Fixed Cost Cost per Cost per per Month $ 6,500 Cruise Passenger $478.00 $ 3.00 $ 3,000 $ 5,900 $ 3,200 $ 31.00 $ 1.50 For example, vessel operating costs should be $6,500 per month plus $478.00 per cruise plus $3.00 per passenger. The company's sales should average $34.00 per passenger. In July, the company provided 56 cruises for a total of 3,150 passengers. Required: Prepare the company's flexible budget for July. Alyeski Tours Flexible Budget For the Month Ended July 31 Revenue Expenses: Vessel operating costs Advertising Administrative costs Insurance Total expense Net operating Income 0