Exercise 9-2 Activity Variances [LO9-2] Fight 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: In July, 29,000 meals were actually served. The company's flexible budget for this level of activity appears below: Required: 1. Calculate the company's activity variances for July. (indicate the effect of eoch variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) \begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ Activity Variances } \\ \hline \multicolumn{2}{|c|}{ For the Month Ended July 31} \\ \hline Revenue \\ \hline Expenses: \\ \hline Raw materials \\ \hline Wages and salaries \\ \hline Utilities & \\ \hline Facility rent & \\ \hline Insurance & \\ \hline Miscellaneous & \\ \hline Total expense & \\ \hline Net operating income \\ \hline \end{tabular}