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Exercise 9-2 (Algo) Prepare a Report Showing Revenue and Spending Variances [LO9-2) Qulicene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7.200 pounds of oysters in August. The company's flexible budget for August appears below: Quilcon Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (9) 7,200 Revenue (54.159) $ 29,880 Expenses Packint supplies ($0.400) 2,850 Oyster bed maintenance ($3,300) 3,300 Wages and salaries (32,200 $0.459) 5,440 Shipping (50.659) 4,650 Utilities ($1,210) 1,210 Other (5410 + $0.819) Total expense 17,992 $ 11,888 Net operating income 482 The actual results for August appear below: Utilities ($1,210) Other ($410 + $0.019) Total expense Net operating income 1,210 482 17,992 $ 11,888 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,200 Revenue $ 27,200 Expenses: Packing supplies 3,050 Oyster bed maintenance 3,160 Wages and salaries 5,850 Shipping 4,410 Utilities 1,020 Other 1,102 Total expense 18,592 $ 8,608 Net operating income Required: Calculate the company's revenue and spending varlances 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 os positive values.) Qullcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Revenue Expenses Packing supplies Oyster bod maintenance Wages and salarios Shipping Utilities Other Total expense Not operating income

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