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: 26,000 $111,800 Flight Care planning, Budget For the Month Ended July 31 Budgeted meals (9) Revenue (54.309) Expenses Raw materials ($1.909) Wages and salaries (56,100 + $0.209) Utilities ($2,000+ $0.054) Tacility rent ($3,100) Insurance ($2,200) Miscellaneous (5700 + $0.109) Total expense Het operating income 49,400 11,300 3,300 3,100 2,200 3,300 72,600 $ 39,200 In July, 27,000 meals were actually served. The company's flexible budget for this level of activity appears below. 27,000 $116, 100 Flight Care Flexible budget For the Month Ended July 33 Dudgeted meals (9) Nevenue (54.300) Expenses Raw materials (51.909) Wages and salaries (56,100+ $0.200) Utilities (62,000 - 50.059) Facility rent (43,100) Insurance (52,200) Miscellaneous (5700 - 50100 Total expense Het operating income 51,300 11,500 3,350 3.100 2,200 3400 74,050 $41.250 For the Month Ended July 31 Budgeted meals (9) 27,000 $116,100 Revenue ($4.3091 Expenses Raw materials (51.909) Wages and salaries ($6,100+ $0.209) Utilities ($2,000 - 50.059) Facility rent ($3,100) Insurance ($2,200) Miscellaneous ($700 + $0.100) Total expense Net operating income 51,300 11,500 3,350 3,100 2,200 3,400 74.850 $.41.250 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 (le, zero variance). Input all amounts as positive values.) lonces Flight Cafe Activity Variances For the Month Ended July 31 Revenue Expenses: Raw materials Wages and salaries Uits Facility rent Insurance Miscellaneous Total expense Net operating income