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 July 31 Budgeted meals (9) 25,000 $112,500 Revenue ($4.509) Expenses Raw materials (51.909) Nages and salaries ($6,500 - 50.289) utilities ($1,900 - $0.650) Facility rent ($3,200) Insurance (52,70e) Miscellaneous (5400 - 50.100) Total expense Net operating income 47,5ee 11,5ee 3,150 3,20 2,700 2,900 70,950 $ 41,550 In July, 26,000 meals were actually served. The company's flexible budget for this level of activity appears below. Flight Care Fledble Budget For the Month Ended July 31 Budgeted meals (2 26.000 Revenue (14.500) $112.000 Expenses Raw materials (51.909) 49,400 Wages and salaries (56,500 $0.289) 11,700 utilities (51,900 - 50.059) 3,200 Facility rent (53,200) 3,200 Insurance ($2.700) 2.700 Miscellaneous (5400 - 50.100) 3,000 Total expense 73,200 Wet operating income $ 43,80 Required: 1 Calculate the company's activity variances for July (Indicate the effect of each variance by selecting "F" for favorable, "U" for untavorable, and "None" for no effect ... zero variance). Input all amounts as positive values.) Flight Cald Activity Variance For the Month finde 21 Miscellaneous ($400 + $0.189) Total expense Net operating income 3, eee 73,200 $ 43,800 Required: 1. Calculate the company's activity variances for July (Indicate the effect of each variance by selecting 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