Flight Caf prepares in flight meals for airlines in its kitchen located next to a local airport. The company's planning budget for July appears below 28,000 5106,400 Flight Care Planning Budget For the Month Ended July 31 Budgeted meals (9) Revenue (53.804) Expenses: Rawaterials (52.004) Wages and salaries (56,400 + $0.209) utilities (51,900 + 50.059) Facility rent (53,600) Insurance (52,100) Miscellaneous (5600 30.109) Total expense Net operating Income 56,000 12,000 3,300 3.600 2,100 3,600 20,600 $ 25,000 In July, 29.000 meals were actually served. The company's flexible budget for this level of activity appears below Flight Cafe Flexible Budget For the Month Ended July 31 Budgeted meals (9) 29.000 Revenue (53.800 $110.200 In July, 29.000 meals were actually served. The company's flexible budget for this level of activity appears below Flight Cafe Flexible Budget For the Month Ended July 31 Budgeted meals (9) 29,000 $110,200 Revenue (53.809) Expenses: Raw materials ($2.000) Wages and salaries ($6,400+ $0.209) Utilities ($1,900 50.059) Facility rent (53,600) Insurance (52,100) Miscellaneous (5000 + 50.100) Total expense Net operating income es 58,000 12,200 3,350 3,600 2,100 3,700 82,950 $ 27.250 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 (l.e., zero variance). Input all amounts os positive values.) Flight Cafe Activity Variances For the Month Ended Jul 31 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