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 meala (q) Revenue ($4.00g) Expenses Raw materials ($2.00g) Wages and salaries (56,500 $0.20g) Utilities ($2,000 +$0.05g) Facility rent ($3,300) Insurance ($2,600) Miscellaneous ($800 $0.10g) Total expense Net operating income 30,000 $ 120,000 60,000 12,500 3,500 3,300 2,600 3,800 85,700 $ 34,300 In July, 31,000 meals were actually served. The company's flexible budget for this level of activity appears below Flight Cat Flexible Budget For the Month Ended July 31 Budgeted meals (9) Revenue ($4.00g) Expensesy Rau material (52.000) Wages and salaries (56,500 $0.20g) ULICI (02,000 0.05) Facility rent (5,300) Insurance ($2,600 Miscellaneous (5800 10.10g) Total expense Net operating incu Required: 31,000 $124,000 62,000 12,700 3,550 3,300 2,600 3,900 1050 35,950 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 (.e., zero variance). Input all amounts as positive values. Revenue Expenses Raw materials Wages and salaries Uses Facility rent Insurance Miscellaneous Flight Caf Activity Variances For the Month Ended July 31