Flight Caf is a company that prepares in-flight meals for airlines in its kitchen located next to the local airport. The company's planning budget for July appears below: Flight Caf 20,000 $ 86,000 For the Month Ended July 31 Budgeted meals (9) Revenue ($4.309) Expenses: Raw materials ($2.10q) Wages and salaries ($6,200 + $0.209) Utilities ($2,200 + $0.059) Facility rent ($3,200) Insurance ($2,300) Miscellaneous ($800 + $0.109) Total expense Net operating income 42,000 10,200 3,200 3,200 2,300 2,800 63,700 $22,300 In July, 21,000 meals were actually served. The company's flexible budget for this level of activity appears below: 21,000 $ 90,300 Flight Caf Flexible Budget For the Month Ended July 31 Budgeted meals (9) Revenue ($4.300) Expenses: Raw materials ($2.109) Wages and salaries ($6,200 + $0.209) Utilities ($2,200 + $0.059) Facility rent ($3,200) Insurance ($2,300) Miscellaneous ($800 + $0.109) Total expense Net operating income 44,100 10,400 3,250 3,200 2,300 2,900 66,150 $ 24,150 Required: 1. Compute 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 effect (i.e., zero variance). Input all amounts as positive values.) Flight Caf Activity Variances For the Month Ended July 31 Revenue Expenses: Raw materials Wages and salaries Utilities Facility rent Insurance Miscellaneous Total expense Net operating income