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 Revenue ($3.90g) Budgeted meals (g) Expenses: Raw materials ($2.20g) Wages and salaries ($6,300 + $0.20g) Utilities ($1,900 + $0.05g) Facility rent ($3,000) Insurance ($2,600) Miscellaneous ($800 + $0.10g) Total expense Net operating income 25,000 $ 97,500 55,000 11,300 3,150 3,000 2,600 3,300 78,350 $ 19,150 In July, 26,000 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 (g) Revenue ($3.90g) Expenses: Raw materials ($2.20g) Wages and salaries ($6,300+ $0.20g) Utilities ($1,900 + $0.05g) Facility rent ($3,000) Insurance ($2,600) Miscellaneous ($800 + $0.10g) Total expense Net operating income Required: 1. Calculate the company's activity variances for July. 26,000 $ 101,400 57,200 11,500 3,200 3,000 2,600 3,400 80,900 $ 20,500 Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero