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 (9) 8,000 Revenue (54.209) Expenses: Packing supplies ($0.409) Oyster bed maintenance ($3.100) Wages and salaries ($2,600 + $0.259) Shipping ($0.659) Utilities ($1,280) Other ($500 + $0.019) Total expense Net operating income $ 33,600 3,200 3,100 4,600 5,200 1,280 580 17.980 $ 15,640 The actual results for August appear below: Quiloene Oysteria Income Statement For the Month Ended August 31 Actual pounds 8,000 $ 27,400 Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 3,370 2080 5,010 4.020 1,090 1,200 18,560 8.840 S 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 Flight Caf prepares in-flight meals for airlines in its kitchen located next to a local airport. The company's planning budget for July appears below: Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals (9) 28,000 $123,200 Revenue ($4.409) Expenses: Raw materials ($1.909) Wages and salaries ($6,000 + $0.209) Utilities ($1,900 + $0.059) Facility rent ($3,500) Insurance ($2,000) Miscellaneous ($800 + $0.109) Total expense Net operating income 53,200 11,600 3,300 3,500 2,000 3,600 77,200 $ 46,000 In July, 29,000 meals were actually served. The company's flexible budget for this level of activity appears below Flight Caf Flexible Budget For the Month Ended July 31 Budgeted meals (9) 29,000 $127,600 Revenue ($4.409) Expenses: Raw materials ($1.909) Wages and salaries ($6,000+ $0.209) Utilities ($1,900 + $0.059) Facility rent ($3,500) Insurance ($2,000) Miscellaneous ($800 + $0.109) Total expense Net operating income 55,100 11,800 3,350 3,500 2,000 3,700 79,450 $ 48,150 Required: 1. Calculate the company's activity variances for July. (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.) Flight Caf Activity Variances For the Month Ended July 31 Revenue Expenses: Raw materials Wages and salaries Utilities Facility rent Insurance Miscellaneous Total expense Net operating income