2 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 366 points Flight Cat Planning Budget For the Minth Ended July 31 Budgeted meal Revenue (54,20g) 21,000 500,200 Raw materials 152.10g) 44,100 wages and salaries (56,400 $0.20) 10,600 Utilities ($2,000 $0.05g) 3,050 Facility rent ($3,500) 3,500 Insurance (62,600) 2,600 Miscellaneous ($600 +$0.1001 2,700 66-550 521,650 Print Total expense Hat operating incone: In July, 22,000 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 311 Budgeted meals (q) ferences Revenue ($4.20g) Rav materials (92.10g) Wages and salarien ($6,400+ 50.20g) Utilities (52,000 +$0.05g1 Facility rent ($3,500) Insurance ($2,600) Miscellaneous (5600 +$0.10g) Total expense set operating incone Required: 22,000 $92,400 46,200 10,800 3.100 3,500 2,600 3,800 69,000 $23,400 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 (ie., zero variance). Input all amounts as positive values.) Next Y Check my won 3.66 points 2 Book Miscellaneous (5600 +$0.1001 Total expens Net operating income Required: 2,800 69,000 $23,400 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 (ie., zero variance). Input all amounts as positive values.) Flight Ca Activity Variances For the Month Ended July 31 Hot Revenue Expenses Print Raw materials Wages and salaries References Utilities Facility rent Insurance Miscellaneous Total expense Net operating income