Flight Caf prepares in-flight meals for airlines in its kitchen located next to a local alrportThe company's planning budget for July appears below: 27,000 $ 105,200 111ght Cafe Planning Budget For the Month Ended: July 31 Budgeted meals (9) Revenue (53.909) Expenses: Raw materials ($2.209) Wages and salaries ($6,200 + 50.209) ULties ($1,900 + $0.059) Facility rent ($2,100) Insurance ($2,600) Miscellaneous ($900 + $0.100) Total expense Het operating Income 59,400 11,600 3,250 3,100 2,600 3,600 83,550 5 21,750 In July, 28,000 meals were actually served. The company's flexible budget for this level of activity appears below Flight Care Flexible budget For the Month Ended July 11 Hudgeted meals (9) Havenue (93.909) Expenses aw materials (52.209) Wages and salaries (56.200+ $0.209) Utilities (51.900 + $0.05) Facility cont (53, 100) Insurance (02.600) Miscellaneous (5900 + 50.100) Total expense Het operating income 20,000 109,200 61,600 11,000 3,300 3,100 2,600 3,700 6 100 $ 23,100 Required: 1. Calculate the company's activity variances for July (Indicate the effect of each variance by selecting "P" for favorable. "U" for unfavorable, and "None" for no effectie, zero variance), Input all amounts as positive values.) Net operating income $ 23,100 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 Caf 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 Flight Caf prepares in-flight meals for airlines in its kitchen located next to a local alrportThe company's planning budget for July appears below: 27,000 $ 105,200 111ght Cafe Planning Budget For the Month Ended: July 31 Budgeted meals (9) Revenue (53.909) Expenses: Raw materials ($2.209) Wages and salaries ($6,200 + 50.209) ULties ($1,900 + $0.059) Facility rent ($2,100) Insurance ($2,600) Miscellaneous ($900 + $0.100) Total expense Het operating Income 59,400 11,600 3,250 3,100 2,600 3,600 83,550 5 21,750 In July, 28,000 meals were actually served. The company's flexible budget for this level of activity appears below Flight Care Flexible budget For the Month Ended July 11 Hudgeted meals (9) Havenue (93.909) Expenses aw materials (52.209) Wages and salaries (56.200+ $0.209) Utilities (51.900 + $0.05) Facility cont (53, 100) Insurance (02.600) Miscellaneous (5900 + 50.100) Total expense Het operating income 20,000 109,200 61,600 11,000 3,300 3,100 2,600 3,700 6 100 $ 23,100 Required: 1. Calculate the company's activity variances for July (Indicate the effect of each variance by selecting "P" for favorable. "U" for unfavorable, and "None" for no effectie, zero variance), Input all amounts as positive values.) Net operating income $ 23,100 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 Caf 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