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Flight Cafe prepares in-flight meats for airlines in its kitchen located next to a local airport. The company's planning budget for July appears below 24,000 $103,200 Flight Cafe planning Budget For the Month Ended: July 31 Budgeted meals (a) Revenue (14.300) Expenses: Raw materials ($1.9) Wages and salaries (56,400 + $0.200) Utilities ($2,100 + $0.650) Facility rent (53,500) Insurance ($2,600) Miscellaneous (5600 + 50.100) Total expense Net operating income 45,600 11,200 3,300 3,500 2,600 3,000 69,20 $ 34,000 In July, 25,000 meals were actually served. The company's flexible budget for this level of activity appears below Flight Caf Flexible Budget For the Month Ended Duly 31 Budgeted meals (9) 25, eee Revenue ($4.300) $107,500 Expenses Raw materials ($1.909) 47,5ee Wages and salaries ($6,400+ $0.209) 11,400 Utilities ($2,100 $0.059) 3,350 Facility rent ($3,500) 3,500 Insurance ($2,600) 2,600 Miscellaneous ($600 + $0.184) 3100 Total expense 71,450 Net operating income $ 36,050 Required: 1. Calculate the company's activity variances for July (Indicate the effect of each voriance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Flight Cafe Activity Variances For the Month Ended July 31 F Revenue U Expenses Raw materials Wages and salaries Utilities Facility rent U 0 None None Insurance Miscellaneous Total expense Net operating income