Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($3.90q) 23,000 $89,700 Expenses Raw materials ($2.20q) Wages and salaries ($6,200$0.20q) Utilities ($1,800+$0.05q) Facility rent ($3,300) Insurance ($2,800) Miscellaneous ($800+ $0.10q) 50,600 10,800 2,950 3,300 2,800 3,100 Total expense 73,550 Net operating income $16,150 In July, 24,000 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Caf Flexible Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($3.90q) 24,000 $93,600 Expenses Raw materials ($2.20q) Wages and salaries ($6,200$0.20q) Utilities ($1,800+$0.05q) Facility rent ($3,300) Insurance ($2,800) Miscellaneous ($800+ $0.10q) 52,800 11,000 3,000 3,300 2,800 3,200 Total expense 76,100 Net operating income $17,500