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,eee $ 184,900 Flight Cafe Planning Budget For the Month Ended July 31 Budgeted meals (9) Revenue ($4.089) Expenses: Raw materials ($1.809) Wages and salaries ($6,408 + $0.209) Utilities ($1,900 + $0.059) Facility rent ($3,500) Insurance ($2,380) Miscellaneous ($608 + $0.109) Total expense Net operating income 46,800 11,600 3, 2ee 3,500 2,300 3, 2ee 79,500 $ 33, 4ee In July, 27,000 meals were actually served. The company's flexible budget for this level of activity appears below: 27,eee $ 108,00 Flight Cafe Flexible Budget For the Month Ended July 31 Budgeted meals (9) Revenue ($4.089) Expenses : Raw materials ($1.889) Wages and salaries ($6,488+ $0.289) Utilities ($1,900 + $8.959) Facility rent ($3,500) Insurance ($2,300) Miscellaneous ($689 + $0.189) Total expense Net operating income 48,600 11,800 3,25e 3,500 2,300 3,300 72,750 $ 35, 250 Required: 1. Calculate the company's activity varlances for July. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Input all amounts as positive values.) Required: 1. Calculate the company's activity varlances for July. (Indicate the effect of each varlance 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