Flight Caf prepares In-flight meals for airlines in its kitchen located next to a local alrport. The company's planning budget for July appears below: Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals (9) 23,000 $103,500 Revenue ($4.509) Expenses : Raw material. ($2.30g) Wages and salaries ($6,200 + $0.209) Utilities ($1,900 + $0.05g Facility rent ($3,500) Insurance ($2,200) Miscellaneous ($300 + $0.10 g) Total expense Net operating income 52,900 10,800 3,050 3,500 2,200 2,600 75,050 $ 28, 450 In July, 24,000 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 (9) 24,000 $100,000 Revenue ($4.50) Expenses: Raw materials ($2.30g) Tages and salaries ($6,200+ $0.20g) Utilities ($1,900 + $0.059) Facility rent ($3,500) Insurance ($2,200) Miscellaneous ($300 + $0.10 g) Total expense Net operating income 55,200 11,000 3,100 3,500 2,200 2,700 77,700 $ 30,300 Required: 1. Calculate the company's activity varlances for July. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance). 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