Annie's Homemade is preparing a planning budget for August. Its budgeted revenue per serving is $5.00. It has identified two cost drivers-number of servings and number of labor-hours. The company expects to sell 10,800 servings and to staff 700 employee labor-hours in August. Data concerning the company's cost formulas are shown below. Fixed Cost Cost per Cost per Per Month Serving Labor Hour Ingredients expense $ 1.25 Salaries and wages expense $ 7,080 $ 8.08 Franchise fee $ 0.25 Credit card processing fees $ 0.09 Utilities expense $ 300 $ 0402 Rent expense $ 3,000 Equipment depreciation expense $ 1,750 Other expenses $ 4,200 In August, the company actually sold 11,200 servings of ice cream and staffed 780 employee labor-hours, It's budgeted revenue per serving is $5.00. Required: Calculate the activity variances for August. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (L.e., zero variance). Input all amounts as positive values.Calculate the activity variances for August. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (1. variance). Input all amounts as positive values. Flexible Planning Activity Variances Budget Budget Servings + Labor-hours Revenue Expensest Ingredients expense Salaries and wages expense Franchise fee Credit card processing fees Utilities expense Rent expense Equipment depreciation expense Other expenses Total expense Net operating income