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 27,000 $102,600 Flight Care Planning Budget For the Month Ended July 31 Budgeted meals (9) Revenue ($3.809) Expenses: Raw materials ($2.009) Wages and salaries ($6,100 + $0.209) Utilities ($1,800 + $0.05) Facility rent ($3,900) Insurance ($2,200) Miscellaneous ($600 + $0.109) Total expense Net operating income 54,000 11,500 3,150 3,900 2,200 3,300 78,050 $ 24,550 In July, 28,000 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) 28,000 Revenue ($3.869) $106,400 Expenses: Raw materials ($2.00) 56,000 Wages and salaries (56,100+ $8.209) 11, 700 Utilities ($1,800 + $0.05) 3,200 Facility rent ($3,900) 3,900 Insurance ($2,200) 2,200 Miscellaneous ($600 + $0.100) 3,400 Total expense B0,400 Net operating Income $ 26,000 $106,400 Revenue ($3.889) Expenses: Raw materials ($2.00) Wages and salaries ($6,100+ $0.289) Utilities ($1,800 + $0.059) Facility rent ($3,900) Insurance ($2,200) Miscellaneous ($600 + $0.189) Total expense Net operating income 56,000 11,700 3,200 3,900 2,200 3,400 80,400 $ 26,000 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 (.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