Help Save & Flight Caf is a company that prepares in-flight meals for airlines in its kitchen located next to the local airport. The company's planning budget for July appears below: Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals (o 30,000 Revenue ($4.20) $ 126,000 66,000 Expenses: Raw materials ($2.200) Wages and salaries ($6,200+ $0.209) Utilities ($2,000 + $0.050) Facility rent ($3,900) Insurance ($2,100) Miscellaneous ($900 + $0.100) 12,200 3,500 3,900 2,100 3,900 Total expense 91,600 Net operating income $34,400 In July 31.000 meals were actually served. The company's flexible budget for this level of activity appears below: In July, 31,000 meals were actually served. The company's flexible budget for this level of activity appears below: 8.57 points Flight Caf Flexible Budget For the Month Ended July 31 Budgeted meals (a) Revenue ($4.20) 31,000 $130,200 68,200 Expenses: Raw materials ($2.200) Wages and salaries ($6,200 + $0.20) Utilities ($2,000+ $0.050) Facility rent ($3,900) Insurance ($2,100) Miscellaneous ($900 + $0.100) 12,400 3,550 3,900 2,100 4,000 Total expense 94,150 Net operating income $36,050 Required: 1. Compute 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 Utilities Facility rent Insurance Miscellaneous Total expense Net operating income