uilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,600 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) 48 Revenue ($4.25q) Expenses: Packing supplies ($0.30g) Oyster bed maintenance ($3,100) Wages and salaries ($2,300+ $0.30g) Shipping ($0.55g) Utilities ($1,280) Other (5460 + $0.01g) Total expense Net operating income The actual results for August appear below. Quilcene Oysteria Income Statement 7,600 $ 32,300 2,280 3,100 4,580 4,180 1,280 536 15,956 $ 16,344 For the Month Ended August 31 Actual pounds 7,600 Revenue $27,300 Expenses Packing supplies 2,450 Oyster bed maintenance 2,960 Wages and salaries 4,990 Shipping 3,910 1,090 1,156 16,556 $10,744 Utilities Other Total expense 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 (i.e., zero variance). Input all amounts as positive values.) Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,600 Revenue $27,300 Expenses: Packing supplies 2,450 Oyster bed maintenance 2,960 Wages and salaries 4,990 Shipping 3,910 Utilities 1,090 Other 1,156 Total expense 16,556 $10,744 Help Save & Exit Submit Check my work 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 (i.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