Exercise $9-2($Static$)$ Prepare a Report Showing Revenue and Spending Variances $[$LO$9-2]$

Qullcene Oysterla farms and sells oysters In the Pacific Northwest. The company harvested and sold $8,000$ pounds of oysters in

August. The company's flexible budget for August appears below:

Quilcene Oysteria

Flexible Budget

Actual pounds $(q)$ the Month Ended August $31$

Revenue $($ $$4.9q$

Expenses:

Packing supplies $($$$0\mathrm{.}50$q$)$

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

Wages and salaries $($$$2,90+$$$0\mathrm{.}3q)$

Shipping $($ $$0\mathrm{.}80q$

Utilities $($$$830)$

other $($$$45+$$$0\mathrm{.}05q)$

Total expense

Net operating income

The actual results for August appear below.

Quilcene Oysteria

Income Statement

For the Month Ended August $31$

Actual pounds $8,800$

Revenue $,$$$35,200$

Expenses:

Packing supplies $4,20$

Oyster bed maintenance $,3,100$

Wages and salaries $5,640$

Shipping $6,950$

Utilities $,810$

Other $,980$

Total expense

Net operating income

$21,68$ $$13,52$

Requlred:

Calculate the company's revenue and spending varlances for August. $($Indlcate the effect of each varlance by selecting $"$F$"$ for

favorable, $"$U$"$ for unfavorable, and "None" for no effect $($l$.$e$.,$ zero varlance$).$ Input all amounts as positlve values.$)$