Submit Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7.200 pounds of oysters in August. The company's flexible budget for August appears below. Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (q) 7, 288 Revenue ($4.65) $29,160 Expenses: Packing supplies ($0.25) 1,800 Oyster bed maintenance ($3,500) 3,500 Wages and salaries ($2,400 + $0.259) 4,2e8 Shipping (59.78) 5,048 Utilities ($1,290) 1,290 Other ($450 + $0.019) 522 Total expense 16,352 Net operating income $12,888 5 The actual results for August were as follows: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,200 Revenue $27,200 Expenses: Packing supplies 1,970 Oyster bed maintenance 3,360 Wages and salaries 4,610 Shipping 4,770 Utilities 1,100 Other 1.142 Total expense 16,952 Net operating income $10,248 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 Income Statement For the Month Ended August 31 Actual pounds 7,200 $ 27,200 Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 1,970 3,360 4,610 4,770 1,100 1,142 16,952 $10,248 ok mi 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.) ences Quilcone 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