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: Quilcone Oysteria Plexible Budget For the Month Ended August 31 Actual pounds (9) 7,500 Revenue ($4.152) $31,125 Expenses Packing supplies ($0.35) 2,625 Oyster bed maintenance ($3,500) 3,500 Wages and salaries ($2,500 + $0.359) 5,125 Shipping ($0.759) 5,625 Utilities ($1,260) 1,260 Other ($470 + $0.019) Total expense 18,680 $ 12,445 Net operating income 545 The actual results for August were as follows: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,500 $ 27,300 Revenue Expenses Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Not operating Income 2,795 3,360 5,535 5,355 1,070 1,165 19,280 $ 8,020 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