2 Flight Caf prepares in-flight meals for airlines in its kitchen located next to a local alrport. The company's planning budget for July appears below: 2.5 points 20,000 $ 75,000 11 Plicht Cace Planning Budget For the Month Ended July 31 Budgeted seale (a) Revenge ($3.004) ExpH Pax raterials ($2.309) When und leries ($6,100 $0.205) Utilities ($2,200 + $0.059) Facility rent ($3,500) Insurance ($3,000) MLACAllaneous ($600 + $0.109) Total expense Net operating income RE Hinc 45,000 10,100 3,200 3,500 3,000 2,600 63,400 $ 7,600 In July 21,000 meals were actually served. The company's flexible budget for this level of activity appears below: References 22,000 Ylight Cafe Plexible Budget For the Month Ended July 31 Budgeted reals (9) Revenue ($3.304) Expenses : Raw materials ($2.300) Wages and salaries ($6,100+ $0.2001 Utilities ($2,200 + $0.054) Facility rent ($3,500) Inacrance ($3,000) 11 ) Miscellaneous ($500 $0.100) Total expense Net operating income *** 48,300 10,300 3,250 3,300 3,000 2,700 72,050 $ 8.750 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 i.e., zero variance). Input all amounts as positive values.) Flight Cafe Activity Variances For the Month Ended July 31 mar 2 21.000 $ 79,800 2.5 points 711 cace Tlexible Budget For the Month Ende: July 31 Budgeted Teal () Revenge ($3.BCG) Expenses Raw materials ($2.300) Wages and salaries ($6,00+ $0.2001 0t111ties ($2,200 + $0.05) Yacility rent ($3,500) Insurance ($3,000) Nacellaneous ($600 + $0.104) 'Tutal expense Net operating income 48,300 10,300 3,250 3,500 3,000 2,700 71,050 $ 8,750 Hok Hinc Required: 1. Calculate the company's activity variances for July. (Indicate the effect of each varlance by selecting "F* for favorable, "U" for unfavorable, and "None" for no effect i.e., zero variance). Input all amounts as positive values.) int Kelerence Flight Cafe Activity Variances For the Month Ended July 31 Revenue Expenses: Raw materias Wages and salaries Ubilities Faclily rent Insurance Miscellaneous Total expanse Net operating incare mar