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: 26,000 $104,000 Tight Cato Planning Budget For the Month Ended July 31 Budgeted meals (9) Revenue ($4.000) Expenss1 Raw materials ($2.009) Wages and salaries ($6,200 + $0.209) Utilities ($1,900 + $0.059) Facility rent ($), 100) Insurance ($2,000) Hincellaneous ($800 + $0.109) Total expense Net operating income 52,000 11.400 3,200 3.100 2,000 3.400 75, 100 $ 28,900 ances In July, 27.000 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Care Plexible Budget For the Month Noded July 31 Budgeted meals (a) 27,000 Revenue (54.009) $100,000 Expense raw materials ($2.009) 54.000 Wages and salaries ($6,200+ $0.209) 11,600 Utilities ($1.900 + $0.050) 3.250 Facility rent ($), 100) 3,100 Insurance (52,000) 2,000 Miscellaneoun (5000+ $0.109) 3,500 Total expense 77,450 Det operating Income $ 30,550 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 Cafe Activity Variances For the Month Ended July 31 Revenue Expenses Raw materials Wages and salaries Utilities Facility rent Insurance Miscellaneous Total expense Not operating income