EXERCISE 9-2 Activity Varlances LO9-2 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: In July, 17,800 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. (Hint: Refer to Exhibit 9-6.) 2. Which of the activity variances should be of concern to management? Explain