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 21,000 S 94.500 Flight Cafe Planning Budget For the Month Ended July 31 Burgeted meals (9) Revenue ($4.500) Expenses Raw materials (51.809) Wages and salaries ($6.200 + 50 2001 Utilities (S2, 100+ 0.059 Facility rent (53,200) Insurance (52,500) Miscellaneous (5800 - 50.100) Total expense Net operating income 37.800 10,400 3.150 3,200 2.500 2.900 59,950 5 34.550 In July 22,000 meals were actually served. The company's flexible budget for this level of activity appears below: 22,000 $ 99,000 Flight Caf Flexibit Budget For the Month Ended July 31 Budgeted meals (0) Revenue ($4.509) Expenses Raw materials (51.8091 Wages and salaries (56.200 + SD 2007 Utilities ($2,100 + 50.059) Facility rent (53,200) Insurance (52,500) Miscellaneous (5800.50.100) Total expens Net Operating income 39,600 10.600 3.200 3.200 2,500 3.000 62.100 $ 38,900 Required: 1. Compute the company's activity variances for July. (Indicate the effect of each variance by selecting "" for favorable. "U"for unfavorable, and "None" for Flight Cate Activity Variances For the Month Ended July 31 S 99,000 Revenue Expenses Raw materials Wages and salaris Utilities Facility rent Insurance Miscellaneous Total expense Net operating income