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 Caf Planning Budget For the Month Ended July 3 Budgeted meals (q) 21,000 25 Revenue ($4.10g) Expenses 86,100 Raw materials ($2.00q) Nages and salaries ($6,000 + $0.20q) Utilities ($2,600 s0.05q) Facility rent ($3,500) Insurance ($2,30e) Miscellaneous ($90 $e.10q) 42,000 10,200 3,e5e 3,500 2,300 Total expense Net operating income 64,050 $22,050 esIn July, 22,000 meals were actually served. The company's flexible budget for this level of activity appears below Flight Caf Flexible Budget For the Month Ended July Budgeted meals (q) 22,000 Revenue (54.10q) Expenses $90 200 Raw materials ($2.00q) Wages and salaries ($6,000+ $0.20q) Utilities ($2,000+$0.05q) Facility rent (53, 5ee) Insurance ($2,300) Miscellaneous ($90e se.18q) 44,000 10,400 3,100 3,500 2,300 3,100 66,400 $23,800 Total expense Net operating income Required: 1 Calculate the companys 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 Cafe 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 Cate Activity Variances For the Month Ended July 31 Revenue Expenses Raw materials Wages and salaries Utilities Facility rent Insurance Total expense Net operating income