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 Duly 31 Budgeted meals (9) 23,600 $96,600 Revenue (54.289) Expenses : Raw materials ($1.800) Wages and salaries ($6,40 + $0.209) Utilities ($2,100 + $0.05) Facility rent ($3,600) Insurance (52,600) Miscellaneous (5600 - 50.189) Total expense Net operating income 41,400 11.00 3,25e 3,600 2,600 2,900 64,750 $31,850 In July, 24.000 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 In July, 24.000 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 (a) 24.ee $100,800 Revenue ($4.289) Expenses: Raw materials ($1.889) Wages and salaries (56,400+ $0.28) Utilities ($2,100 + $0.05) Facility rent ($3,600) Insurance ($2,600) Miscellaneous (5680 + $0.189) Total expense Net operating income 43, 2ee 11,200 3,300 3,600 2,600 3,000 66,900 $ 33,900 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 Cafe Activity Variances 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 (1.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