Flight Caf prepares in-flight meals for airlines in its kitchen located next to a local airport. The company's planning budget for Jul appears below: Flight Cafe Planning Budget For the Month Ended July 31 Budgeted meals (9) 25,000 $100,000 Revenue ($4.089) Expenses: Raw materials ($2.189) Wages and salaries ($6,100 + $0.289) Utilities ($1,900 + $0.859) Facility rent ($3,200) Insurance ($2,000) Miscellaneous ($500 + $0.109) Total expense Net operating income $2,500 11,100 3,150 3,200 2,000 3,000 74,95 $ 25,050 In July, 26,000 actually meals were 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) 26,000 5104.00 Revenue ($4.000) Expenses: Raw materials ($2.109) Wages and salaries (56,100+ $0.209) Utilities ($1,900 + $0.059) Facility rent ($3,200) Insurance (52,000) Miscellaneous ($508 + $0.109) Total expense Net operating income 54,600 11,300 3,200 3,200 2,000 3,100 77,400 $ 26,600 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 os positive values.) $184, Revenue (54.60) Expenses: Raw materials ($2.109) Wages and salaries (56,100+ 50.21) Utilities ($1,900 + $0.05) Facility rent ($3,200) Insurance (52,690) Miscellaneous ($500 + 30.109) Total expense Net operating Incone 54,600 11,3 3,200 3,200 2.000 3,100 77.400 $ 26,600 Required: 1. Calculate the company's activity variances for July (Indicate the effect of each variance by selecting "P" for favorable, "U" unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Flight Cale Activity Variances For the Month Ended July 31 Revenue Expenses Raw materials Wages and salaries Uslities Facility rent Insurance Miscelaneous Total expense Net operating income