99 Check my work 5 Flight Caf prepares in-flight meals for airlines in its kitchen located next to a local airport. The company's planning budget for July appears below: 20 Flight Caf Planning Budget For the Month Ended July 31 points Budgeted meals (g) 24,000 $93,600 Revenue ($3.90q) Expenses: Raw materials ($2.20g) ook 52,800 11,000 Wages and salaries ($6,200 $0.20g) Utilities ($1,800 $0.05q) Facility rent ($3,200) Insurance ($2,400) 3,000 3,200 2,400 3,100 Hint Miscellaneous ($700+ $0.10q) Total expense 75,500 Ask $18,100 Net operating income Print In July, 25,000 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Caf Flexible Budget References For the Month Ended July 31 Budgeted meals (g) 25,000 Revenue ($3.90q) $97,500 Expenses: Raw materials ($2.20q) Wages and salaries ($6,200+ $0.20g) Utilities ($1,800 $0.05q) Facility rent $3,200) Insurance ($2,400) Miscellaneous ($700+ $0.10g) Total expense 55,000 11,200 3,050 3,200 2,400 3,200 78,050 $19,450 Net operating income 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., zero variance). Input all amounts as positive values.) Flight Caf Activity Variances LO