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Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,400 August. The company's flexible budget for August appears below: 7,400 $ 30,710 Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (9) Revenue ($4.159) Expenses: Packing supplies ($0.309) Oyster bed maintenance ($3,300) Wages and salaries ($2,300 + $0.359) Shipping ($0.709) Utilities ($1,250) Other ($460 + $0.019) Total expense Net operating income 2,220 3,300 4,890 5,180 1,250 534 17,374 $ 13,336 The actual results for August were as follows: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 2,4 71,400 Revenue $ 27,200 Expenses : Packing supplies 2,390 Oyster bed maintenance 3,160 Wages and salaries 5,300 Shipping 4,910 Utilities 1,060 Other 1,154 Total expense 17,974 $ 9,226 Net operating income Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by se favorable for unfavorable and anal Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each varian favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as posi 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

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