![Exercise 9-3 (Algo) Revenue and Spending Varlances [LO9-3]<br>Quilcene Oysterla farms and sells oysters In the Pacific Northwest. The company harvested and sold 7,500 pounds of oysters In<br>August. The company's flexible budget for August appears below:<br>Quilcene Oysteria<br>Flexible Budget<br>For the Month Ended August 31<br>Actual pounds (9)<br>7,500<br>$ 30,75e<br>Revenue ($4.10g)<br>Expenses:<br>Packing supplies ($0.25q)<br>Oyster bed naintenance ($3,000)<br>Wages and salaries ($2,6G00 + se.309)<br>Shipping ($e.55g)<br>Utilities ($1,270)<br>other ($460 + se.014)<br>Total expernse<br>1,875<br>3,000<br>4,85e<br>4,125<br>1,270<br>535<br>15,655<br>$ 15,095<br>Net operating income<br>The actual results for August were as follows:<br>Quilcene Oysteria<br>Income Statenent<br>For the Month Ended August 31<br>Actual pournds<br>7.500<br>Revenue<br>Expenses:<br>Packing supplies<br>Oyster bed maintenance<br>Wages and salaries<br>Shipping<br>Uulities<br>$27,400<br>2, 045<br>2,860<br>5,260<br>3,855<br>1, 080<br>1,155<br>16, 255<br>other<br>Total expense<br>Net operating incone<br>$ 11,145<br>Required:<br>Calculate the company's revenue and spending varlances for August (Indicate the effect of each varlance by selecting](https://s3.us-east-1.amazonaws.com/storage.unifolks.com/qimg-008/008_g3tfzj0-oz5cobuz.jpeg)
Extracted text: Exercise 9-3 (Algo) Revenue and Spending Varlances [LO9-3] Quilcene Oysterla 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 (9) 7,500 $ 30,75e Revenue ($4.10g) Expenses: Packing supplies ($0.25q) Oyster bed naintenance ($3,000) Wages and salaries ($2,6G00 + se.309) Shipping ($e.55g) Utilities ($1,270) other ($460 + se.014) Total expernse 1,875 3,000 4,85e 4,125 1,270 535 15,655 $ 15,095 Net operating income The actual results for August were as follows: Quilcene Oysteria Income Statenent For the Month Ended August 31 Actual pournds 7.500 Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Uulities $27,400 2, 045 2,860 5,260 3,855 1, 080 1,155 16, 255 other Total expense Net operating incone $ 11,145 Required: Calculate the company's revenue and spending varlances for August (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (I.e, zero varlance). 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