3 In July, 17,800 actually meals were served. The company's flexible budget for this level of activity appears below: Flight Caf Flexible Budget For the Month Ended July 31 1.25 points Budgeted meals (q) 17,800 $80,100 Revenue (4.50g) Expenses: 03:16:07 42,720 Wages and salaries ($5,200$0.30g) 10,540 3,290 4,300 2,300 2,460 65,610 $14,490 Raw materials ($2.40g) Utilities ($2,400$0.05g) Facility rent ($4,300) Insurance (2,300) Miscellaneous ($680$0.10g) eBook Total expense Net operating income Hint 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.) Print Flight Caf Activity Variances For the Month Ended July 31 References Revenue S 81,000 U Expenses: Raw materials Wages and salaries Utilities Facility rent 42,720 Miscellaneous Total expense Net operating income 3 In July, 17,800 actually meals were served. The company's flexible budget for this level of activity appears below: Flight Caf Flexible Budget For the Month Ended July 31 1.25 points Budgeted meals (q) 17,800 $80,100 Revenue (4.50g) Expenses: 03:16:07 42,720 Wages and salaries ($5,200$0.30g) 10,540 3,290 4,300 2,300 2,460 65,610 $14,490 Raw materials ($2.40g) Utilities ($2,400$0.05g) Facility rent ($4,300) Insurance (2,300) Miscellaneous ($680$0.10g) eBook Total expense Net operating income Hint 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.) Print Flight Caf Activity Variances For the Month Ended July 31 References Revenue S 81,000 U Expenses: Raw materials Wages and salaries Utilities Facility rent 42,720 Miscellaneous Total expense Net operating income