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Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,100 pounds of oysters in August. The companys flexible budget for August appears below: Flexible Budget For the Month Ended August 31 Actual pounds (a) Revenue ($4.20q) $29,820 Packing supplies (S0.35q) Oyster bed maintenance ($3,300) Wages and salaries ($2,300 $0.50q) Shipping ($0.65q) Utilities (S1,240) Other ($480+ $0.01q) 2.485 3,300 5,850 4,615 551 Total expense Net operating income $11,779 The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds Revenue 7.100 $26,800 Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities 2.655 3.160 6,260 4,345 1,050 Total expense 18,641 8,159 Net operating incomeRequired Compute the companys revenue and spending variances for August. Input all amounts as positive values.) Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and None for no effect (i.e., zero variance 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 Hint#1

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