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 $ 32,000 4.000 3,200 5,380 6,400 Revenue ($4.00) Expenses: Packing supplies ($0.509) Oyster bed maintenance ($3,200) Wages and salaries ($2,900 + $0.309 9023 Shipping ($0.809) utilities (5830) Other ($450 + $0.059) Total expense Net operating income 83e 850 20,580 $ 11,420 The actual results for August appear below. Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 8,000 Revenue 535,200 Expenses: Packing supplies 4,200 Oyster bed maintenance 3,100 Wages and salaries 5,640 Shipping 6,950 Utilities 60 Other 980 Total expense 21,600 $ 13,520 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 os positive values.) Quilcene Oysteria Revenue and Spending Variances 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 fi.e., zero variance). Input all amounts os positive values.) Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Revenue Expenses Packing supplies Oyster bed maintenance Wages and salaries U Shipping U Utilities Other TU Total expense U Net operating income