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 (9) 7,600 Revenue ($4.15q) $31,540 Expenses: Packing supplies ($0.35g) 2,660 Oyster bed maintenance ($3,300) 3,300 Wages and salaries ($2,100 + $0.40g) 5,140 Shipping ($0.60g) 4,560 Utilities ($1,280) 1,2801 Other ($410 + $0.01g) 486 Total expense 17,426 Net operating income. $14,114 The actual results for August appear below. Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,600 Revenue $27,000 Expenses: Packing supplies 2,830 Oyster bed maintenance 3,160 Wages and salaries 5,550 Total expense Net operating income The actual results for August appear below. Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,600 Revenue $27,000 Expenses: Packing supplies 2,830 Oyster bed maintenance 3,160 Wages and salaries 5,550 Shipping 4,290 Utilities 1,090 Other 1,106 Total expense 18,026 Net operating income $ 8,974 17,426 $14,114 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 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