Madison Corporation is an oil well service company that measures its output by the number of wells services. The company provided the following foxed and variable cost estimates that it uses for budgeting purposes. Fixed Element per Month Revenue Employee salaries and wages Servicing materials Other expenses Variable Element per Well Serviced $ 4,900 $ 1.200 $ 700 $47,400 $29,500 When the company prepared its planning budget at the beginning of July, it assumed that 32 wells would have been serviced. However, 36 wells were actually serviced The activity variance for revenue for July would have been closest to: $19.600 F $19,600 U $14.400 F $9.000 F