Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,600 pound August. The company's flexible budget for August appears below: Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (9) 7.600 $ 31,540 Revenue ($4.159) Expenses : Packing supplies ($0.359) Oyster bed maintenance ($3,400) Wages and salaries ($2,200 + $0.409) Shipping ($0.609) Utilities ($1,250) Other ($420 + $0.019) Total expense Net operating income 2,660 3,400 5,240 4,560 1,250 496 17,606 $ 13.934 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,600 $ 27, 200 Revenue Expenses Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities 2,830 3,260 5,650 4,290 1.060 Other ($420 + $0.019) Total expense Net operating income 17,606 $ 13,934 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,600 $ 27,200 Revenue Expenses Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 2.830 3,260 5,650 4,290 1.060 1,116 18,206 $ 8.994 Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by selecting "F"fo favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 $ 8,994 Net operating income 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 (.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