Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals (9) 20,000 $76,000 Revenue ($3.80g) Expenses: Raw materials ($2.10g) Wages and salaries ($6,000 + $0.209) Utilities ($1,800 + $0.059) Facility rent ($3,500) Insurance ($2,100) Miscellaneous ($800 + $0.109) Total expense Net operating income 42,000 10,000 2,800 3,500 2,100 2,800 63,200 $12,800 ces In July, 21,000 meals were actually served. The company's flexible budget 1 Flight Caf Flexible Budget For the Month Ended July 31 Budgeted meals (9) 21,000 $ 79,800 Revenue ($3.809) Expenses : Raw materials ($2.109) Wages and salaries ($6,000+ $0.209) Utilities ($1,800 + $0.05g) Facility rent ($3,500) Insurance ($2,100) Miscellaneous ($800 + $0.109) Total expense Het operating income 44,100 10, 200 2,850 3,500 2,100 2,900 65,650 $14, 150 Check my w Total expense Net operating income 65.650 $14,150 Required: 1. Calculate 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 (.e., zero variance). Input all amounts as positive values.) Book Flight Caf Activity Variances For the Month Ended July 31 Hint Revenue =ferences Expenses Raw materials Wages and salaries Utos Facility rent Insurance Miscellaneous Total expense Net operating income 231 Next >