2 Check my wen Flight Caf prepares in-flight meals for airlines in its kitchen located next to a local airport. The company's planning budget for July appears below 2 Hom Flight Care Planning Budget For the Month Ended July 31 Budgeted meals (a) Revenue (54.501 Expenses: Raw materials (52.38) Wages and salaries (55,200 $8.209) utilities (52.000 - 50.050) Facility rent (53, 100) Insurance (52.100) Miscellaneous ($500 $e.16) Total expense Net operating Incone 26.000 $ 117,000 59.800 11.40 3,30 1,100 2,10 3,300 82,800 5 34,200 in July, 27,000 meals were actually served. The company's flexidle budget for this level of activity appears below. Flight Care Flexible Budget For the Month Ended July 31 Budgeted meals (o) 27.000 Revenue (54.569) $121.5e Expenses! Raw materials (52.38) 62,122 Wages and salaries (56,200 $9.29) 13,60 utilities (52.000 - 50.059) 3,350 Facility rent (53.100) 3,100 Insurance (52.100) 2.100 Miscellaneous 5500+ $0.189) 3,20 Total expense 85,050 Net operating income 5 36.650 Cemy work 13 Miscellaneous 5580 58.109) Total expense Net operating income 4 3,208 85,450 $ 36,50 2 points Required: 1. Calculate the company's activity variances for July (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect le, zero variance). Input all amounts as positive values.) och Fight Cafe Activity Variances For the Month Ended July 21 Berce Ravenue Expenses Raw materials Wages and stories Utilities Facility rent Insurance Misonous Total expense Net operating income