24,000 100,800 For the Month Ended July 31 Budgeted meals (9) Revenue ($4.204) Expenses Raw materials (52.209) Wages and salaries (56,300 + $0.209) Utilities ($2,100 + 50.059) Facility rent ($3,700) Insurance ($2,200) Miscellaneous ($900 + $0.100) Total expense Net operating income 52,800 11.100 3,300 3,700 2,200 3,300 76,400 $ 24,400 In July, 25,000 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Cote Flexible Budget For the Month Ended July 31 Budgeted meals (9) 25,000 $105,000 Revenue ($4.209) Expenses: Raw materials ($2.209) Wages and salaries ($6,300+ $0.209) Utilities ($2,100 + $0.059) Facility rent ($3,700) Insurance ($2,200) Miscellaneous ($900 + $0.109) Total expense Net operating income 55,000 11,300 3,350 3,700 2,200 3,400 78.950 $ 26.050 Required: 1. Calculate the company's activity variances for July (Indicate the effect of each variance by selecting "F" for favorable, "U"f unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.)