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 ($4.109) $32,800 Expenses Packing nupplies ($0.300) 2,400 Oyster bed maintenance (53,300) 3,300 Wages and salaries ($2,000+ $0.409) 5,200 Shipping ($0.659) 5,200 Utilities ($1,290) 1,290 Other ($490 + $0.019) 570 Total expense 17.960 $14,840 Het operating income The actual results for August were as follows: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 8,000 $26.900 Revenue Fynene Total expense Net operating income 17,960 $14.840 The actual results for August were as follows: Ouleene Oysteria The statement For the Month Ended August 31 Actual pounds 8,000 Revenue $26.900 Expenses Packing supplies 2,570 Oyster bed maintenance 3,160 Wages and salarios 5,610 Shipping 4.930 Utilities 1.100 Otbor 1.190 Total expense 18.560 Net operating income $ 8.340 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 (.e., zero variance). Input all amounts as positive values.) Quilcene Oysteria 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 Varances For the Month Ended August 31 Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income