Chaudhuri Memorial Diner is a charity supported by donations that provides free meals to the homeless. The diner's budget for April was based on 2,700 meals. The diner's director has provided the following cost formulas to use in budgets: Fixed element per month Groceries Kitchen operations Administrative expenses Fundraising expenses $ 5,900 $ 3,000 $ 1,500 Variable element per meal $ 3.50 $ 1.55 $ 0.75 $ 0.00 The director has also provided the diner's statement of actual expenses for the month: Chaudhuri Memorial Diner Statement of Expenses For the Month Ended April 30 Actual meals Groceries Kitchen operations Administrative expenses Fundraising expenses Total expense 2,600 $ 9,340 10,300 4,890 1,540 $26,070 Required: Prepare a flexible budget performance report showing both the activity variances and the spending variances for each of the expenses and for total expenses for April. Label each variance as favorable (F) or unfavorable (U). Essay Toolbar naviqation