Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($3.90q) Raw materials ($2.00q) Expenses: Wages and salaries ($6,200 + $0.20q) Utilities ($2,100 + $0.05q) Facility rent ($3,200) Insurance ($2,400) Miscellaneous ($700 + $0.10q) Total expense Net operating income 24,000 $ 93,600 48,000 11,000 3,300 3,200 2,400 3,100 71,000 $ 22,600 In July, 25,000 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) Expenses: Raw materials ($2.00q) Wages and salaries ($6,200+ $0.20q) Utilities ($2,100 + $0.05q) Facility rent ($3,200) Miscellaneous ($700 + $0.10q) Insurance ($2,400) Total expense Net operating income 25,000 $ 97,500 50,000 11,200 3,350 3,200 2,400 3,200 73,350 $ 24,150 : Investigate Encue