Chapter 9 - Homework Help Save Exercise 9-2 Activity Variances (LO9-2] 0.59 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: Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals (9) 21.00 Revenue (0.40 Raw waterials (52.109) Wages and salaries (56,200 $0.209) utilities (12,100 + .05) Facility rent (53.900) Insurance (52,400) Miscellaneous (100 $0.109) Total expense Net operating income 66.650 $25,750 In July 22,000 meals were actually served. The company's flexible budget for this level of activity appears below Flexible Budget for the Month Ended July 31 22.000 596.800 46,200 Raw materials (52.100) wages and salaries (56,200 $0.20) utilities (52.100 + 50.05) Chapter 9 - Homework Help Sau Insurance ($2,400) Miscellaneous ($600 + $0.189) Total expense Net operating income 66,65e 0.59 points In July, 22.000 meals were actually served. The company's flexible budget for this level of activity appears below. Flight Caf Flexible Budget For the Month Ended July 31 Budgeted meals (9) 22,000 Reverve ($4.400) 596,00 10.609 Raw materials (52.100) Wages and salaries (56,200+ $0.289) Utilities (52.100 + $0.05) Facility rent (53,900) Insurance (52,600) Miscellaneous (600 + $0.100) 69,109 $27,700 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 effectie, zero variance). Input all amounts as positive values.) Activity Variances For the Month Ended July 31 Chapter 9 - Homework i Help Save 11 Miscellaneous (5600 $0.189) Total expense Net operating income 69,100 0.59 points Required: 1. Calculate the company's activity variances for July (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) Flight Cafe Activity Variances For the Month Ended July 31 Revenue Expenses Raw materials Wages and salaries Us Facility rent Insurance Miscellaneous Total expense Not operating income