Flight Caf prepares in fight meals for airlines in its kitchen located next to a local airport. The company's planning budget for July appears below 23,00 592,00 Flight Cate Planning Budget For the Month Ended July 31 Duded sla (9) Revece ($4.00) Expense: Ran zateriala $1.989) Wages and salaries (54,200 + 50.2001 Utilities (51,900 - 50.0591 Facility rent 193,500) Tsuance (52,800) Miscellaneous 1$50D + $0.109) Total expense Het operating incom 43,00 10,00 2,000 2,800 66,650 525,350 In July, 24,000 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Cato Flexible Budget Tor the Month Inded July 11 Tudated male cal 24,00 Revece ($4.00) 596,000 Expense Ran zateriala $1.989) 45,600 Wages and salaries (54,200+ $0.209) 11,000 Utilities ($1,900 + $0.051 3,100 Facility rent 193,500) Imance (52,800) Miscellaneous 1$SDD $0.109) Total expense Het operating income 527,100 Required: 1. Calculate the company's activity variances for July (Indicate the effect of each variance by selecting "P" for favorable, "U" for unfavorable, and "None" for no effect (l.e.zero variance). Input all amounts as positive values.) Flight Cole Activity Variances For the Month Ended July 31 Revenue Expert Raw materials Wapes and salaries Utilities Facility rent Insurance Miscellaneous Total expense Net operating income