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: Plight Caf Planning Budget For the Month Ended July 31 Budgeted meals (9) 24,000 Book $105,600 Print Revenue ($4.409) Expenses : Raw materials ($1.809) Wages and salaries ($6,500 + $0.209) Utilities ($1,800 + $0.059) Facility rent ($3,200) Insurance ($3,000) Miscellaneous ($600 + $0.100) Total expense Net operating income 43,200 11,300 3,000 3,200 3,000 3,000 66,700 $ 38,900 erences In July, 25,000 meals were actually served. The company's fidxible budget for this level of activity appears below: Flight Caf Plexible Budget For the Month Ended July 31 Budgeted meals (9) 25,000 In July, 25,000 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Caf Plexible Budget For the Month Ended July 31 Budgeted meals (9) 25,000 $110.000 Book Hint Print Revenue ($4.409) Expens: Raw materials ($1.809) Wages and salaries ($6,500+ $0.209) Utilities ($1,800 + $0.059) Facility rent ($3,200) Insurance ($3,000) Miscellaneous ($600 + $0.100) Total expense Net operating income 45,000 11.500 3,050 3.200 3.000 3,100 68,850 $ 41, 150 oferences 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 Drou 2 6 388 Next > 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: Raw materials Wages and salaries Utilities Facility rent Insurance Miscellaneous Total expense Net operating income