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: 23,000 $87,400 Flight Care Planning Budget Tor the Month Unded July 31 Budgeted meals (9) Revenue ($3.809) Expenses Raw materials ($2.109) Wages and salaries ($6.300 + $0.200) Utilities ($1,800 + 30.059) Facility rent (53,200) Innurance ($2,600) Miscellaneous (5800 + 30.109) Total expense Net operating income 48,300 10.900 2,950 3,200 2,600 3,100 71,050 $16.350 In July, 24.000 meals were actually served. The company's flexible budget for this level of activity appears below: 24,000 591,200 Flight Cafe Plexible Budget Tor the Month Unded July 21 Dudgeted meals (g) Revenue (53.800) Expenses Raw materials ($2.100) Wages and salaries (56,300+ $0.2007 Utilities ($1,000 - 50.059) Facility rent ($3,200) Insurance (52,600) Miscellaneous (5800 + $0.100) Total expense Not operating income 50,400 11,100 3.000 3,200 2.600 3.200 73,500 017.700 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 (l.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 salarios Utilities Facility rent Insurance Miscellaneous Total expense Net operating income