Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 8,000 pounds of oysters in August. The company's flexible budget for August appears below: Quilcene dysterin Flexible Budget For the Month Ended August 31 Actual pounds (9) 8,000 Revenue (54.009) 5 32,000 Expenses Packing supplies (50.500) 4,000 Oyster bed maintenance ($3,200) 3,200 Wages and salaries (52,900 + $0.300) 5,300 Shipping (50.300) 5, 400 utilities (5830) Other (5450 50.059) 850 Total expense 20,580 Net operating income $ 11,420 830 The actual results for August appear below: Quilcene oysteria Income Statement For the Month Ended August 31 Actual pounds 8,000 Revenue $ 35, 200 Expenses: Packing supplies 4,200 Oyster bed maintenance 3, 100 Wages and salaries 5,640 Shipping 6,950 Utilities 810 Other 980 Total expense 21,680 Net operating income $ 13,520 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 (l.e., zero variance). Input all amounts as positive values.) Quilcene Oysterius Revenue and Spending Variances For the Month Ended August 31 Revenue Expenses Packing supplies Oyster bed maintenance Wages and salanes Shipping bes Other Total expense Net operating income