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: Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($4.20q) Expenses: Raw materials ($2.309) Wages and salaries ($6,400 + $0.209) Utilities ($2,000 + $0.059) Facility rent ($3,300) Insurance ($2,300) Miscellaneous ($700 + $0.109) Total expense Net operating income 29,000 $ 121,800 66,700 12,200 3,450 3,300 2,300 3,600 91,550 $ 30,250 In July, 30,000 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 ($2.309) Wages and salaries ($6,400+ $0.209) Utilities ($2,000 + $0.05q) Facility rent ($3,300) Insurance ($2,300) Miscellaneous ($700 + $0.109) Total expense Net operating income Required: 1. Calculate the company's activity variances for July. 30,000 $ 126,000 69,000 12,400 3,500 3,300 2,300 3,700 94,200 $ 31,800 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 expense Net operating income Flight Caf Activity Variances For the Month Ended July 31