Flight Caf prepares in-flight meals for airlines and its planning budget for July appears below: Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals (q) 28,000 Revenue ($4.20q) $117,600 Expenses: Raw materials ($2.009) 56,000 Wages and salaries ($6,400 + $0.20q) 12,000 Utilities ($2,200 + $0.05q) 3,600 Facility rent ($3,000) 3,000 Insurance ($2,800) 2,800 Miscellaneous ($400 + $0.10q) 3,200 Total expenses 80,600 $ 37,000 Net operating income In July, 29,000 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) Revenue ($4.20q) Expenses: Raw materials ($2.00q) Wages and salaries ($6,400+ $0.20q) Utilities ($2,200 + $0.059) Facility rent ($3,000) Insurance ($2,800) Miscellaneous ($400 + $0.10q) 29,000 $ 121,800 58,000 12,200 3,650 3,000 2,800 3,300 In July, 29,000 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) Revenue ($4.20q) Expenses: Raw materials ($2.00q) Wages and salaries ($6,400+ $0.20q) Utilities ($2,200 + $0.05q) Facility rent ($3,000) Insurance ($2,800) Miscellaneous ($400 + $0.10q) Total expenses Net operating income Required: 1. Calculate the company's activity variances for July. 29,000 $ 121,800 58,000 12,200 3,650 3,000 2,800 3,300 82,950 $ 38,850 Note: 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. Revenue Expenses: Flight Caf Activity Variances For the Month Ended July 31 Required: 1. Calculate the company's activity variances for July. Note: 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. Revenue Expenses: Raw materials Wages and salaries Utilities Facility rent Insurance Miscellaneous Total expenses Net operating income Flight Caf Activity Variances For the Month Ended July 31