Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,200 pounds of oysters in August. The companys flexible budget for August appears below:

The actual results for August appear below:

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 farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,200 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) Revenue ($4.15q) 7,200 $29,880 Expenses: Packing supplies ($0.40q) Oyster bed maintenance ($3,300) Wages and salaries ($2,200 $0.50q) Shipping ($0.55q) Utilities ($1,270) Other ($430$0.01q) 2,880 3,300 5,800 3,960 1,270 502 Total expense 17,712 Net operating income $ 12,168 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds Revenue 7,200 $26,700 Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other 3,050 3,160 6,210 3,690 1,080 1,122 Total expense 18,312 Net operating income $ 8,388