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: 28,000 $114.800 Plight Cato Planning Budget For the Month Ended July 31 Budgeted meals (4) Revenue (54.100) Expenses Raw materiale $2.200) Wages and salaries ($6,200 + $0.204) Utilities ($2,000 + $0.05) Facility rent ($3,600) Insurance ($2,600) Miscellaneous $700 + $0.109) Total expense Net operating income 61,600 11,800 3,400 3,600 2,600 3.500 86,500 $28.300 In July, 29,000 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) 29,000 $119,900 Revenue (54.100) Expenses Raw materials (52.209) Wages and salaries (56,200+ $0.209) Utilities ($2,000 + $0.059) Facility rent ($3.600) Insurance ($2,600) Miscellaneous ($700 + $0.109) Total expense Net operating income 63,800 12,000 3,450 3,600 2,600 3.600 09.050 $29.950 Requirea! 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 Net operating income