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: Check my Flight Cato Planning Budget Yor the Month Unded July 31 Budgeted meala (9) 29,000 5127,600 Ravenue (04.409) Expenses Raw materials ($2.104) Wages and salaries (56,500 $0.209) Utilities $2,100 + $0.054) Facility cont (53,100) Insurance ($2,600) Miscellaneous ($700 50.109) Total expense Net operating income 60,900 12.300 3,550 3.100 2.600 3.600 86.050 $ 41,550 In July 30,000 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Card Flexible Budget Por the Month Ended: July 31 Budgeted meals (9) 30,000 $132.000 Ravenue (54.409) Expenses Raw materials (92.100) Wages and salaries ($6.500+ 50.209) Uudice 152.100 50.053 63,000 12,500 3.600 Help Save & Submit 2 Check my In July 30,000 meals were actually served. The company's flexible budget for this level of activity appears below Flight Cate Flexible budget For the Month Ended July 31 Budgeted meals (9) 30.000 Revenue (54.409) $132.000 Expenses raw materials (52.109) 63.000 Wages and salaries ($6.500+ 50.209) 12,500 Utilities (52.100 + 30.059) 3.600 Facility rent ($3,100) Insurance ($2.600) 2.600 Miscellaneous (5700 + $0.1041 3.700 Total expense 88.500 Net operating income $ 43,500 Book 3,300 ference Required: 1. Calculate the company's activity variances for July (indicate the effect of each variance by selecting "F* for favorable, "Ufor unfavorable, and "None" for no effect (.e., zero variance), Input all amounts as positive values.) Flight Care Activity Variances For the Month Ended July 31 Revenue Expenses