uilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,100 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) Revenue (54.20g) Expenses Packing supplies (50.25g) Oyster bed maintenance ($3,500) Wages and salaries (52,600 + $0.40g) Shipping (50.70g) Utilities ($1,240) Other ($5500 + $0.01g) Total expense Net operating income The actual results for August were as follows: Quilcene Oysteria Income Statement For the Honth Ended August 31 7,100 $29,820 1,775 3,500 5,440 4,970 1,240 571 17,496 $ 12,324 Actual pounds Revenue Expenses Packing supplies Oyster bed maintenance Mages and salaries Shipping Utilities 7,100 526,700 3,945 3,360 5,850 4,700 1,050) Other 1,191 Total expense 18.096 Net operating income $8,604 Required: Required: Calculate the company's revenue and spending variances for August. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Input all amounts as positive values. Revenue Expenses: Packing supplies Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income