Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold $7,500$ 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$)7,500$

Revenue $($$$4\mathrm{.}15$q$)$ $ $31,125$

Expenses:

Packing supplies $($$$0\mathrm{.}40$q$)3,000$

Oyster bed maintenance $($$$3,200)3,200$

Wages and salaries $($$$2,200+$ $$0\mathrm{.}35$q$)4,825$

Shipping $($$$0\mathrm{.}60$q$)4,500$

Utilities $($$$1,230)1,230$

Other $($$$480+$ $$0\mathrm{.}01$q$)555$

Total expense $17,310$

Net operating income $ $13,815$

The actual results for August appear below:

Quilcene Oysteria

Income Statement

For the Month Ended August $31$

Actual pounds $7,500$

Revenue $ $26,700$

Expenses:

Packing supplies $3,170$

Oyster bed maintenance $3,060$

Wages and salaries $5,235$

Shipping $4,230$

Utilities $1,040$

Other $1,175$

Total expense $17,910$

Net operating income $ $8,790$

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