uilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,400 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) 7,400 Revenue ($4.05q) $29,970 Expenses Packing supplies ($0.35g) 2,590 Oyster bed maintenance ($3,200) 3,200 Wages and salaries ($2,400 + $0.35g) 4,990 Shipping ($0.80g) 5,920 Utilities ($1,300) 1,300 Other ($500 +$0.01g). 574 Total expense 18,574 Net operating income $ 11,396 The actual results for August appear below. Quilcene Oyateria Income Statement For the Month Ended August 31 Actual pounds 7,400 Revenue $27,200 : Packing supplies 2,760 Oyster bed maintenance 3,060 Wages and salaries 5,400 Shipping 5,650 tilitie 1.110 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 311 Actual pounds 7,400 Revenue $27,200 Expenses: Packing supplies 2,760 Oyster bed maintenance 3,060 Wages and salaries 5,400 Shipping. 5,650 Utilities 1,110 Other Total expense 1,194 19,174 Net operating income $ 8,026 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 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