Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,700 pounds of oysters in August. The company's flexible budget for August appears below: 3.33 points Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (9) Skipped 7,700 $ 31,570 Revenue ($4.10.) Expenses : Packing supplies ($0.309) Oyster bed maintenance ($3,200) Wages and salaries ($2,200 + $0.259) Shipping ($0.609) Utilities ($1,210) Other ($500 + $0.019) Total expense Net operating income 2,310 3,200 4, 125 4,620 eBook 1,210 001 Hint 577 16,042 $ 15,528 Print The actual results for August were as follows: References Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,700 Revenue $ 27,400 Expenses : Packing supplies 2,480 Oyster bed maintenance 3,060 Wages and salaries 4,535 Shipping 4,350 Utilities 1,020 Other 1,197 Total expense 16,642 Net operating income $ 10,758 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.) 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.) Print References 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