2 Flight Care Planning Budget For the Month Ended: July 31 Budgeted meals (o) 27.000 5 5 $121,500 02:54:16 Revenue ($4.509) Expenses : Raw Materials ($2.300) Wages and salaries (56, 2ee - $0.289) Utilities ($2,000$0.05) Facility rent ($3,400) Insurance (52,900) Miscellaneous ($500 50.189) Total expense Net operating income 62,100 11,600 3,350 3,400 2,900 3,200 B6,550 $ 34,95 Hit In July, 28,000 meals were actually served. The company's flexible budget for this level of activity appears below. Flight Cafe Flexible Budget For the Month Ended July 31 Budgeted heals to) 28,000 Revenue (34.5) $126.000 Expenses Ravnaterats (52.3) 54,400 Wages and salaries (56,200 $0.209) 11,880 utilities (52.00 50.650) 3,400 Facility rent ($3,400) 3,480 Insurance (52,900) 2.900 Miscellaneous (550.50.100) Total expense 89. Zee Net operating income $36,800 2.380 Required: Calculate the company's activity variances for July (Indicate the effect of each variance by selecting *F* for favorable, "U" unfavorable, and "Mone" for no effecte,tero variance). Input all amounts as positive values.) ght Cute Act Variances For the Month Ended 31 Wegendwa ce