1.	Compute the companys activity variances for July. (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.)

Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($4.50q) 18,000 $81,000 Expenses Raw materials ($2.40q) Wages and salaries ($5,200 $0.30q) Utilities ($2,400 +$0.05q) Facility rent ($4,300) Insurance ($2,300) Miscellaneous ($680$0.10g) 43,200 10,600 3,300 4,300 2,300 2,480 Total expense 66,180 Net operating income $ 14,820 In July, 17,800 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Caf Flexible Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($4.50q) 17,800 $80,100 Expenses Raw materials ($2.40q) Wages and salaries ($5,200 $0.30q) Utilities ($2,400 +$0.05q) Facility rent ($4,300) Insurance ($2,300) Miscellaneous ($680$0.10g) 42,720 10,540 3,290 4,300 2,300 2,460 Total expense 65,610 Net operating income $14,490