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 26,000 Budgeted meals (4) Revenue ($4.504) $ 117,000 Expenses: Raw materials ($2.300) 59,800 11,200 wages and salaries ($6,000 $0.20g) utilities ($2,200 s0.054) 3,500 Facility rent ($3,900) 3,900 Insurance ($2,500) 2,500 Miscellaneous (1sbe 10.100) 3,100 Total expense B4,000 Net operating income $ 33,000 In July, 27,000 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 27,000. Budgeted meals (4) Revenue ($4.50g) Expenses: $ 121,500 Raw materials ($2.38g) 62,100 wages and salaries ($6,000+ se.200) 11,400 utilities ($2,200+ $0.954) 3,550 Facility rent ($3,900) Insurance ($2,500) 3,900 2,500 Miscellaneous (ssee se.18g) 3,200 Total expense 56,650 Net operating income $ 34,850 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 (Le., 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 Miscelaneous Total expense Net operating income