Quitcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,800 pounds of oysters in August. The company's flexible budget for August appears below Quilcene Oysters Fledble Budget For the Month Ended August 31 Actual pounds (9) 7,500 Revenue (54.254) 532150 Expenses Packing supplies (50.354) 2.730 Oyster bed maintenance (53,300) 3,30 Wages and salaries (52,400 + $0.50) 6,300 Shipping (58.609) 4,650 utilities (51.300) 1,300 Other (5420 + $0.01) 498 Total expense 15,808 Net operating Income $ 14,342 The actual results for August were as follows Quilcene Oyster Income Statement For the Month Ended August 31 Actual pounds 7,600 26.700 Revenue Expenses Pacieing supplies Oyster bed maintenance Wages and salaries Shipping Ulities Other Total expense Net operating Income 2,900 3.160 6, 710 4,410 1.110 19.40 57,292 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 effectie, 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 (ie, 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