Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals (9) 18,000 Revenue ($4.509) $81,000 Expenses : Raw materials ($2.40q) 43,200 Wages and salaries ($5,200 + 10,600 $0.30g) Utilities ($2,400 + $0.059) 3,300 Facility rent ($4,300) 4,300 Insurance ($2,300) 2,300 Miscellaneous ($680 + $0.109). 2,480 Total expense 66,180 Net operating income $14,820 In July, 17,800 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 (9) 17,800 Revenue ($4.509) $ 80, 100 Expenses: Raw materials ($2.409) 42,720 Wages and salaries ($5,200 + $0.30g) 10,540 Utilities ($2,400 + 3,290 $0.059) Facility rent ($4,300) Insurance ($2,300) 2,300 Miscellaneous ($680 + 2,460 $0.109) Total expense 65,610 Net operating income $ 14, 490 4,300 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 (i.e., zero variance). Input all amounts as positive values.) Flight Caf Activity Variances For the Month Ended July 31 Revenue Expenses: Raw materials Wages and salaries Utilities Facility rent Insurance Miscellaneous Total expense Net operating income