Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold $7,800$ 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$)$

$7,800$

Revenue $($$$4\mathrm{.}15$q$)$

$ $32,370$

Expenses:

Packing supplies $($$$0\mathrm{.}30$q$)$

$2,340$

Oyster bed maintenance $($$$3,100)$

$3,100$

Wages and salaries $($$$2,200+$ $$0\mathrm{.}30$q$)$

$4,540$

Shipping $($$$0\mathrm{.}70$q$)$

$5,460$

Utilities $($$$1,230)$

$1,230$

Other $($$$470+$ $$0\mathrm{.}01$q$)$

$548$

Total expense

$17,218$

Net operating income

$ $15,152$

The actual results for August were as follows:

Quilcene Oysteria

Income Statement

For the Month Ended August $31$

Actual pounds

$7,800$

Revenue

$ $26,700$

Expenses:

Packing supplies

$2,510$

Oyster bed maintenance

$2,960$

Wages and salaries

$4,950$

Shipping

$5,190$

Utilities

$1,040$

Other

$1,168$

Total expense

$17,818$

Net operating income

$ $8,882$

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.$)$

Quilence Oysteria

Revenue and Spending Variances

For the Month Ended August $31$

Revenue

U

Expenses:

Packing supplies

U

Oyster bed maintenance

F

Wages and salaries

U

Shipping

F

Utilities

F

Other

U

Total expense

U

Net operating income

U