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: Flight Cate Planning Budget For the Month Ended: July 31 Budgeted meals (9) 27,000 $100.000 Revenge (54.009) Expenses: Raw materials (52.009) Wages and salaries ($6,300 + $0.209) Utilities ($1,900 - $0.059) Facility rent ($3,000) Insurance ($2,300) Miscellaneous ($700 + $0.109 Total expense Net operating income 34,000 11,700 3,250 3,000 2,300 3,400 77.650 $ 30,350 In July, 28,000 meals were actually served. The company's flexible budget for this level of activity appears below: 20,000 $112,000 Flight Cafe Flexible Budget For the Month Ended July 31 udgeted meals (9) Revenge ($4.000) expenses Raw materials (52.000) Wages and salaries (56,300+ $0.209) Utilities (61,900 - 00.059) Theility cont (53,000) Tssurance (52.300) incollaneous (5700 50.100) Total expense Hot Operating Incom 56.000 11.900 3,300 3,000 2.300 3.500 00.000 $ 12,000 Required: 1. Calculate the company's activity variances for July (Indicate the effect of each variance by selecting 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 effe unfavorable, and "None" for no effect (i.e., zero variance). Input all ar 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