Quilcene Oysteria forms and sells oysters in the Pacific Northwest. The company harvested and sold 7600 pounds of oysters in August. The company's flexible budget for August appears below: Quilone Oyuteria Ylexible Budget For the Month Unded August 31 Actual pounde (9) 7,600 Revenue (54.159) $31,540 Expenses: Packing supplies (50.300) 2,280 Oyster bed maintenance ($3,300) 3,300 Wages and salaries ($2,500 + $0.359) 5,160 Shipping ($0.809) 6,080 Utilities ($1,280) 1,280 Other ($400 + $0.019) 476 Total expense 18,576 $ 12,964 Net operating income The actual results for August appear below. Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,600 $ 27,500 Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Bet operating income 2,450 3,160 5,570 5.810 1,090 1,096 19,176 $ 8,324 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.) Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Input all amounts as positive values.) Qullcene Oystoria 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