Flight Caf prepares in-flight meals for airlines in its kitchen located next to a local alrport. The company's planning budget for July appears below: Flight Cafe Planning Budget For the Month Ended July 31 Budgeted meals (9) 23,000 $82,400 Revenue ($3.889) Expenses Raw materials ($1.909) Wages and salaries (56,400 + $0.289) Utilities ($2,200 + $0.059) Facility rent ($3,600) Insurance (52,980) Miscellaneous ($300 + $0.109) Total expense Net operating income 43,700 11,000 3,350 3,600 2,900 2.600 67,150 $20,250 In July, 24,000 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) 24,000 591,200 Revenue ($3.809) Expenses: Raw materials ($1.989) Wages and salaries ($6,400+ $0.209) Utilities ($2,200 $0.059) Facility rent ($3,000) Insurance ($2.900) 45,600 11,200 3,400 3,600 2.900 In July, 24,000 meals were actually served. The company's flexible budget for this level of activity appears below. Flight Cafe Flexible Budget For the Month Ended uly 31 Budgeted meals (a) 24,000 Revenue ($3.000) 591,200 Expensest Raw materials (51.909) 45,600 Wages and salaries ($6,400 $0.209) 11,200 Utilities ($2,200 + $0.059) 3,400 Facility rent ($3,600) 3,600 Insurance ($2,900) 2,900 Miscellaneous ($300 + $0.109) 2,700 Total expense 69,400 Net operating income $21,800 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.) 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 Revenge Expenses Raw materials Wages and salaries Utilities Facility ront Insurance Miscellaneous Total expense Net operating income