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: pok int Print Flight Cafe Planning Budget For the Month Ended July 31 Budgeted meals (9) 30,000 Revenue ($4.300) $ 129,000 Expenses: Raw materials ($2.009) 60,000 Wages and salaries ($6,400 + $0.209) 12,400 Utilities ($1,900 + $0.859) 3,400 Facility rent ($3,200) 3,200 Insurance ($2,000) 2,000 Miscellaneous (5700 + $0.109) 3,700 Total expense 84,700 Net operating income $ 44,300 In July, 31,000 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 neals (9) 31,000 Revenue (54.389) $ 133,300 Expenses: Raw materials (52.009) 62,000 Wages and salaries ($6,400+ $0.209) 12,600 Utilities 151,900 $0.059) 3,450 Facility rent (53,200) 3,200 Insurance ($2,000) 2,000 Miscellaneous (5700 - 50.100) 3,800 Total expense 87,050 Net operating income $ 46,250 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 (.e., zero variance). Input all amounts as positive values.) erences Net operating income $ 46,250 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 Caf Activity Variances For the Month Ended July 31 Revenue Expenses ht koncos Raw materials Wages and salarios Utilities Facility ront Insurance Miscellaneous Total expense Not operating income