Budgeted meals (9) Flight Caf Flexible Budget For the Month Ended July 31 Revenue ($4.10q) Expenses: Raw materials ($2.10g) Wages and salaries ($6,400+ $0.209) Utilities ($1,900 + $0.054) Insurance ($2,600) Facility rent ($3,300) Miscellaneous ($400 + $0.109) Total expense Net operating income i Required: 28,000 $114,000 58,800 12,000 3,300 3,300 2,600 3,200 83,200 $31,600 A 1. Calculate the company's activity variances for July. (Indicate the effect of each variance by selecting "F" for favorable, "U" fo unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Revenue Expenses Raw materials Flight Caf Activity Variances For the Month Ended July 31 Wages and salaries Utilities Facility rent Insurance Miscellaneous Total expense Net operating income