Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,400 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)

7,400

Revenue ($4.10q)

$

30,340

Expenses:

Packing supplies ($0.35q)

2,590

Oyster bed maintenance ($3,400)

3,400

Wages and salaries ($2,000 + $0.50q)

5,700

Shipping ($0.80q)

5,920

Utilities ($1,270)

1,270

Other ($460 + $0.01q)

534

Total expense

19,414

Net operating income

$

10,926

The actual results for August appear below:

Quilcene Oysteria

Income Statement

For the Month Ended August 31

Actual pounds

7,400

Revenue

$

27,300

Expenses:

Packing supplies

2,760

Oyster bed maintenance

3,260

Wages and salaries

6,110

Shipping

5,650

Utilities

1,080

Other

1,154

Total expense

20,014

Net operating income

$

7,286

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 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

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