Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals (q) 27,000 $118,806e Revenue ($4.40q) Expenses: Raw materials ($2.00q) Wages and salaries ($6,100 + $0.20q) Utilities ($2,000 $0.05q) Facility rent ($3,100) Insurance ($2,400) Miscellaneous ($800 + $0.10q) 54,000 11,500 3,350 3,100 2,400 3,500 77,850 $ 40,956e Total expense Net operating income In July, 28,000 actually meals were 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) 28,000 Revenue ($4.40q) Expenses: $123,20i0 Raw materials ($2.00q) Wages and salaries ($6,100+ $0.20q) Utilities ($2,000 $0.05q) Facility rent ($3,100) Insurance ($2,400) Miscellaneous ($800 $0.10q) 56,000 11,700 3,400 3,100 2,400 3,600 80,200 $ 43,000 Total expense Net operating income 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