Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,200 pounds of oysters in August. The company’s flexible budget for August appears below: Quilcene OysteriaFlexible BudgetFor the Month Ended August 31 Actual pounds (q) 7,200 Revenue ($4.20q) $ 30,240 Expenses: Packing supplies ($0.35q) 2,520 Oyster bed maintenance ($3,300) 3,300 Wages and salaries ($2,100 + $0.45q) 5,340 Shipping ($0.70q) 5,040 Utilities ($1,220) 1,220 Other ($480 + $0.01q) 552 Total expense 17,972 Net operating income $ 12,268 The actual results for August appear below: Quilcene OysteriaIncome StatementFor the Month Ended August 31 Actual pounds 7,200 Revenue $ 26,500 Expenses: Packing supplies 2,690 Oyster bed maintenance 3,160 Wages and salaries 5,750 Shipping 4,770 Utilities 1,030 Other 1,172 Total expense 18,572 Net operating income $ 7,928Required:Compute 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 OysteriaRevenue and Spending VariancesFor the Month Ended August 31RevenueExpenses:Packing suppliesOyster bed maintenanceWages and expenseNet operating income