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 31 Budgeted meals (9) 29,800 $118,90 Revenue ($4.189) Expenses: Raw materials ($2.289) Wages and salaries (56,109 - Se.289) Utilities ($2,200 -se.e59) Facility rent (53,700) Insurance ($2,780) Miscellaneous (5600 + $0.189) Total expense Net operating income 63,898 11,900 3.650 3,700 2.789 3,580 89,250 $ 29,650 In July 30,000 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 31 Budgeted meals (9) 30,000 $123,000 Revenue ($4.189) Expenses: Raw materials ($2.289) Hages and salaries ($6,100+ $0.289) Utilities ($2,200 + $0.059) Facility rent 103.700) 66,000 12,188 3,700 3.72 _20pis 1 Saved In July, 30,000 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 31 Budgeted meals (9) 30,000 $123,000 Revenue ($4.189) Expenses: Raw materials (52.289) Wages and salaries (56,100+ $0.209) Utilities ($2,200 $0.05) Facility rent ($3,700) Insurance ($2,700) Miscellaneous (5680 $.189) Total expense Net operating income 66,000 12.100 3,700 3,700 2,700 3,500 91,800 $ 31,200 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 Revenue Expenses Raw materials Wages and salaries 21 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 Revenue Expenses Raw materials Wages and salaries Facility rent Insurance Miscellaneous Total expense Net operating income