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 Cata Planning Budget For the Month Ended July 31 Budgeted neals (9) 24,000 Revenue ($4.309) $ 103,200 Expenses Raw materials ($1.80) 43,200 Wages and salaries ($6,400 + $0.209) 11,200 Utilities ($1,900 + $0.059) 3,100 Facility rent ($3,800) 3,800 Insurance ($2,500) 2,500 Miscellaneous ($800 + $0.109) 3,200 Total expense 67,000 Net operating income $ 36,200 In July, 25,000 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) 25,000 $107.500 Revenue ($4.309) Expenses Raw materials ($1.809) Wages and salaries ($6,400+ $0.209) Utilities (51,900 - 50.059) Facility rent ($3,800) Insurance (52,500) Miscellaneous (5800 + $0.109) Total expense Net operating income 45,000 11,400 3,150 3.800 2,500 3.300 69,150 $ 38,350 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