M Question 3 - Ch. 9 HW - Connect Course Hero Course Hero Ch. 9 HW Saved Help Save & Exit Submit Check my work 3 Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (q) 7,300 2 Revenue ($4.20q) $ 30, 660 points Expenses: Packing supplies ($0.35q) 2,555 Oyster bed maintenance ($3,500) 3,500 Wages and salaries ($2, 300 + $0.35q) 4, 855 Shipping ($0. 75q) 5,475 Utilities ($1,270) 1,270 eBook Other ($450 + $0.01q) 523 Total expense 18, 178 Net operating income $ 12, 482 Hint The actual results for August were as follows: Print Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 7,300 References Revenue $ 27, 000 Expenses: Packing supplies 2,725 Oyster bed maintenance 3,360 Wages and salaries 5,265 Shipping 5,205 Utilities 1, 080 Other 1, 143 Total expense 18,778 Net operating income $ 8,222 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.)