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 Care Planning Budget For the Month Ended July 31 Budgeted meats (9) 27,000 Revenue ($4.309) $116, 100 Expenses: Raw materials ($1.989) 51,300 Wages and salaries ($6,300 + $0.209) 11,700 Utilities ($1,900 + 30.059) 3,250 Facility rent ($3,900) 3,900 Insurance ($2,900) 2,900 Miscellaneous ($800 + 50.109) Total expense 76,55 Net operating income $ 39,550 3,500 ces In July, 28,000 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 (a 28,000 Revenue (54.300) $120,400 Expenses Raw materials 151.989) 53,200 Wages and salaries ($6.300+ $0.209) 11,900 utilities (51,900 + $0.059) 3,300 Facility rent ($3,900) 3.900 Insurance (52,900) 2,900 Miscellaneous ($800 - 50.100) 3,600 Total expense 78,500 Net operating income 5.41,600 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 (l.e., zero variance). Input all amounts as positive values.) Ook Hint rences Flight Cafe 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