Flight Cafe prepares inight 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 (q) 36,666 Revenue ($3.96q) 5 117,666 Expenses: Raw materials ($2.36q] 69,666 Wages and salaries ($6,466 + $6.26q) 12,466 Utilities {$2,saa + $6.651) 3,566 Facility rent [$3,266] 3,266 Insurance ($2,466) 2,466 Miscellaneous ($?66 + $6.16q) 3,?66 Total expense 94,266 Net operating income 5 22,399 In July, 31,000I meals were actually served. The company's exible budget for this level of activity appears below: Flight Cafe Flexible Budget For the Honth Ended July 31 Budgeted meals (q) 31,666 Revenue ($3.66q) 5 126,966 Expenses: Raw materials ($2.36q] ?1,366 Wages and salaries ($5,466+ $6.26q] 12,666 Utilities ($2,666 + $6.65q) 3,553 Facility rent ($3,266) 3,266 Insurance ($2,466) 2,466 Miscellaneous ($266 + $6.16q) 3,366 Total expense 96,356 Net operating income 5 24,656 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.) Required: 1. Calculate the company's activity variances for July. {Indicate the effect of each variance by selecting 1"'F" for favorable, \"U" for unfavorable, and \"None\" for no effect {i-e., zero variance}. Input all amounts as positive values.) Revenue Expenses: Raw materials Wages and salaries Facility rent Insurance Miscellaneous Total expense Net operating income