30,000 $114,000 Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals (9) Revenue ($3.809) Expenses : Raw materials ($1.909) Wages and salaries ($6,100 + $0.209) Utilities ($2,100 + $0.059) Facility rent ($3,200) Insurance ($2,900) Miscellaneous ($300 + $0.109) Total expense Net operating income 57,000 12,100 3,600 3,200 2,900 3,300 82,100 $ 31,900 In July, 31,000 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Cate Flexible Budget For the Month Ended July 31 Budgeted meals (9) 31,000 Revenue ($3.809) $117,800 Expenses : Raw materials ($1.909) 58,900 Wages and salaries ($6,100+ $0.209) 12,300 Utilities ($2,100 + $0.059) 3,650 Facility rent ($3,200) 3,200 Insurance ($2,900) 2,900 Miscellaneous ($300 + $0.109) 3,400 Total expense 84,350 Net operating income $ 33,450 ansurance 14,00) Miscellaneous ($300 + $0.109) Total expense Net operating income 4,00 3,400 84,350 $ 33,450 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 Caf Activity Variances For the Month Ended July 31 Revenue Expenses Raw materials Wages and salaries Utilities Facility rent Insurance Miscellaneous Total expense Net operating income