n its kitchen located next to the local airport. The company's planning budget for July appears below: Flight Caf is a company that prepares in-flight meals for airlines Flight Caf Planning Budget Month Ended July 31 For Budgeted meals (a) Revenue ($4.00g) Expenses: 20 000 $80,000 terials (52.10g) Wages and salaries ($6,000 +$0.20q) Utilities ($1,800+$0.05q) Facility rent ($3,600) 42.000 10 000 2800 3,600 Miscellaneous ($700+$0.10q ) 2.700 63 600- Total expense $16.400 Net operating income In July, 21,000 meals were actually 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 (g) Revenue ($4.00g) Expenses 21,000 S 84,000 Ne and salaries ($6.000+$0.20q) Utilities ($1,800+$0.05q) Facility rent ($3,600) (2500) 10.200 2.850 3,600 1800 66.050- Miscellaneous ($700S0.10q) Te S17.950 Net operating income Required: Compute the company's activity variances for July. (Indicate the effect of each variance by selecting "F" for favorable, "U" r no effect (i.e., zero variance). Input amounts as positive values.) unfavorable, and "None" Flight Caf Activity Variances For the Month Ended July 3 Revenue Expenses Raw materials Wages and salaries Utilities Facility rent Insurance Miscellaneous Total expense Net operating income