Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7800 pounds of oysters in August. The company's flexible budget for August appears below: 7.000 $ 32,370 Quilcene Oysteria Flexible Budget Tor the Month Ended August 31 Actual pounds (a) Revenue ($4.159) Expenses Packing supplies ($0.359) Oyster bed maintenance $3,100) Wages and salaries ($2,400 + $0.359) Shipping ($0.559) Utilities ($1,290) Other ($480 + $0.019) Total expense Net operating income The actual results for August appear below: 2,730 3,100 5,130 4,290 1,290 558 17,098 $ 15,272 Quilcene Oysteria Income statement For the Month Ended August 31 Actual pounds 7.000 Revenue $ 27,200 Expenses Packing supplies 2.900 Oyster bed maintenance 2,960 Wages and salaries 5,540 Shipping 4,020 Utilities 1,100 Other 1.170 Total expense 12,698 Net operating income $ 9,502 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 (le, 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.) ces Qullcone 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