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 Book HIS A PAYS For the Month Ended July 31 Budgeted meals (q) Revenue ($4.18g) Expenses: Raw materials (52.10g) Hages and salaries ($6,300 +$0.20g) Utilities ($1,800 $0.050) Facility rent ($3,500) Insurance ($2,800) Miscellaneous (5600 50.10g) Total expense Net operating income 22,000 $ 90,200 46,200 10,700 2,900 3,500 2,800 2,000 68-900 $ 21,300 In July, 23,000 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) Book Revenue ($4.100) Expenses: Ack Raw materials (52.104) Wages and salaries ($6,300+ 50.200) Utilities (51,800 + $0.054) Facility rent ($3,500) Insurance ($2,800) Miscellaneous ($600 $0.10g) Total expense Net operating income Required: 23,000 $94,300 48,300 10,900 2,950 3,500 2,800 2,900 71,350 $ 22,950 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 (ie., zero variance). Input all amounts as positive values.) Flight Caf 1 1 1. Calculate the company's activity variances for July. (Indicate the effect of each variance by selecting "F" for favorable, "U" unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Flight Caf Activity Variances For the Month Ended July 311 points Revenue eBook Expenses Hin Raw materials Ask Print References Wages and salaries Utilities Facility rent Insurance Miscellaneous Total expense Net operating income