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 Cata Planning Budget Tor the Month Unded July 31 Budgeted meala (9) 24,000 Revenue (84.100) $ 98,400 Expenses Raw materials ($2.100) 50,400 Wagon and salaries ($6,400 + $0.200) 11,200 Utilities ($2,000+ $0.059) 3.200 Facility rent ($3,800) 3,800 Tourance (3.000) 3,000 Miscellaneous ($800 + 60.100) 3,200 Total expense 74,800 Not operating income $ 23,600 In July, 25,000 meals were actually served. The company's flexible budget for this level of activity appears below: Fight Care Thexible budget Tor the Month Unded July Dudgeted menle ) 25,000 Tevenue (4.109) 5. 102,500 xpenses Raw materiala (62.109) 52,500 Mages and salaries ($6.400 $0.200) 11,400 Union (62,000+ 0.054) 3,250 Tacility rent (3, 000) 3,000 Insurance (3.000) 3,000 Miscellaneous ($800 + $0.100) 3,300 Total expense 77,250 Het operating income 5. 25,250 Required: 1. Calculate the company's activity variances for July (Indicate the effect of each variance by selecting "F" for favorable, "U" for Insurance ($3,000) Miscellaneous ($800 + $0.109) Total expense Met operating income 3,000 3,300 77,250 $ 25,250 Required: 1. Calculate the company's activity variances for July (Indicate the effect of each variance by selecting "P" 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 ront Insurance Miscellaneous Total expense Net operating Income