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 Cafe Planning Budget For the Month Ended July 31 Budgeted seals (9) 22,000 Revenue (54.00) $ 88,000 Expenses: Raw materials ($1.989) 41.800 Wages and salaries ($6,400 + $0.289) 10, 80e Utilities ($2,000 + 50.059) 3,100 Facility rent ($3,300) 3,300 Insurance ($2,600) 2,600 Miscellaneous ($800 + $0.189) 3,000 Total expense 64.600 Net operating income $ 23,480 In July, 23,000 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Cafe Flexible Budget For the Month Ended July 31 Budgeted meals (9) 23,000 Revenue (54.289) $ 92,000 Expenses: Raw materials (51.989) 43,700 Wages and salaries ($6,400+ $0.289) 11,000 Utilities ($2,000+ $0.050) 3,150 Facility rent ($3,300) 3,300 Insurance ($2,600) 2,600 Miscellaneous ($880 $0.109) 3,100 Total expense 66,850 Net operating income $ 25,150 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 fi.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 Net operating income