In July, 28,000 meals were actually served. The company's flexible budget for this level of activity appears below: 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: Required: 1. Compute the company's activity variances for July. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero varlance). Input all amounts as positive values.) Flight Caf Flexible Budget For the Month Ended July 31 Budgeted meals (9) Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals (0) Revenue ($4.000) 28.000 27.000 $ 108,000 Revenue ($4.000) $ 112,000 Flight Caf Activity Variances For the Month Ended July 31 53.200 Revenue Expenses: Raw materials ($1.90) Wages and salaries ($6,000 - $0.209) Utilities ($2,100 - $0.05) Facility rent ($3,100) Insurance ($2,100) Miscellaneous ($600 + $0.100) 51,300 11.400 3,450 3,100 2,100 3,300 Expenses: Raw materials ($1.90C) Wages and salaries ($6,000 + $0.209) Utilities ($2,100 + $0.059) Facility rent ($3,100) Insurance ($2.100) Miscellaneous ($600 + $0.100) Expenses: 11,600 3,500 3.100 2100 3.400 Raw materials Wages and salaries Total expense 74,650 Utilities 76.900 Total expense Net operating income $33,350 Facility rent Insurance Net operating Income $ 35,100 Miscellaneous Flight Caf is a company that prepares in-flight meals for airlines in its kitchen located next to the local alrport. The company's planning budget for July appears below: In July, 28,000 meals were actually served. The company's flexible budget for this level of activity appears below. Required: Flight Caf 1. Compute the company's activity variances for July. (Indicate the effect of e Flexible Budget varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for For the Month Ended July 31 effect (.e., zero variance). Input all amounts as positive values.) 28.000 Budgeted meals (0) Flight Cafe Planning Budget For the Month Ended July 31 Budgeted meals (0) Revenue ($4.000) 27.000 $ 108,000 Revenue ($4.000) $112.000 Flight Caf Activity Variances For the Month Ended July 31 53.200 Expenses: Raw materials ($1.909) Wages and salaries ($6,000+ $0.200) Utilities ($2,100 - $0.050) Facility rent ($3,100) Insurance ($2,100) Miscellaneous ($600 + $0.100) Expenses Raw materials ($1.900) Wages and salaries ($6.000 + $0.200) Utilities ($2,100 + $0.050) Facility rent ($3,100) Insurance ($2.100) Miscellaneous ($600 + $0.100) 51,300 11,400 3.450 3.100 2.100 3.300 Revenue 11.600 3,500 3,100 2.100 3.400 Expenses: Raw materials Total expense 74.650 Wages and salaries 76.900 Total expense Utilities Net operating income $33,350 Facility rent Net operating income $ 35,100 Insurance Miscellaneous Total expense Net operating income