Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,600 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)

7,600

Revenue ($4.15q)

$

31,540

Expenses:

Packing supplies ($0.40q)

3,040

Oyster bed maintenance ($3,300)

3,300

Wages and salaries ($2,500 + $0.30q)

4,780

Shipping ($0.70q)

5,320

Utilities ($1,260)

1,260

Other ($400 + $0.01q)

476

Total expense

18,176

Net operating income

$

13,364

The actual results for August appear below:

Quilcene Oysteria Income Statement For the Month Ended August 31
Actual pounds		7,600
Revenue	$	26,800
Expenses:
Packing supplies		3,210
Oyster bed maintenance		3,160
Wages and salaries		5,190
Shipping		5,050
Utilities		1,070
Other		1,096
Total expense		18,776
Net operating income	$	8,024
Required: Compute 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 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