Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals (g) 20,000 Revenue ($3.80g) $76,000 Expenses: Raw materials ($2.00) 40,000 Wages and salaries ($6,100 + $0.20g) 10,100 Utilities ($2,000 + $0.05g) 3,000 Facility rent ($3,700) 3,700 Insurance ($2,400) 2,400 Miscellaneous ($500 + $0.10g) 2,500 Total expense Net operating income 61,700 $14,300 In July, 21,000 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) 21,000 Revenue ($3.80g) $79,800 Expenses: Raw materials ($2.00g) 42,000 Wages and salaries ($6,100+ $0.20g) 10,300 Utilities ($2,000 + $0.05g) 3,050 Facility rent ($3,700) 3,700 Insurance ($2,400) 2,400 Miscellaneous ($500 + $0.10g) 2,600 Total expense 64,050 Net operating income $15,750