1. Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,800 pounds of oysters in August. The companys flexible budget for August appears below:

Quilcene Oysteria
Flexible Budget
For the Month Ended August 31
Actual pounds (q)		7,800
Revenue ($4.15q)	$	32,370
Expenses:
Packing supplies ($0.30q)		2,340
Oyster bed maintenance ($3,100)		3,100
Wages and salaries ($2,200 + $0.30q)		4,540
Shipping ($0.65q)		5,070
Utilities ($1,200)		1,200
Other ($480 + $0.01q)		558
Total expense		16,808
Net operating income	$	15,562

The actual results for August appear below:

Quilcene Oysteria
Income Statement
For the Month Ended August 31
Actual pounds		7,800
Revenue	$	27,400
Expenses:
Packing supplies		2,510
Oyster bed maintenance		2,960
Wages and salaries		4,950
Shipping		4,800
Utilities		1,010
Other		1,178
Total expense		17,408
Net operating income	$	9,992

Required:

Calculate the companys 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 Osyteria
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