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 Cat6 Planning Budget For the Month Ended July 31 Budgeted meals (9) 30,000 Revenue ($3.909) $117,000 Expenses Raw materials ($2.009) 60,000 Wages and salaries ($6,100 + $0.209) 12,100 Utilities ($2,200 + $0.059) 3,700 Facility rent ($3,700) 3,700 Insurance ($2,700) 2,700 Miscellaneous ($400 + $0.109) 3,400 Total expense 85.600 $ 31,400 Net operating income 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 meals (9) 31,000 $120.900 Revenue (53.909) Expenses Raw materials ($2.009) Wages and salaries ($6,100+ $0.209) Utilities ($2,200 + $0.059) Facility rent ($3,700) Insurance ($2,700) Miscellaneous ($400 + $0.109) Total expense Net operating income 62,000 12,300 3,750 3,700 2,700 3.500 87,950 $ 32,950 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.) 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 Not operating income