Exercise 9-3 (Algo) Revenue and Spending Variances (LO9-3] Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,500 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 (9) 7,500 Revenue ($4.189) $ 30,758 Expenses: Packing supplies ($0.35) 2,625 Oyster bed maintenance ($3,200) 3,200 Wages and salaries ($2,108 + $8.389) 4,350 Shipping ($0.689) 4,500 Utilities ($1,21e) 1,210 Other ($480 + $8.019) 555 Total expense 16,440 Net operating income $ 14,310 The actual results for August were as follows: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,500 Revenue $ 26,500 Expenses: Packing supplies 2,795 Oyster bed maintenance 3,060 Wages and salaries 4,760 Shipping 4,230 Utilities 1,020 Other 1,175 Total expense 17,040 Net operating income $ 9,460 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 position Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 evenue kpenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income