ook nt ant Flight Caf prepares in-flight meals for airlines and its planning budget for July appears below. Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($3.90q) Expenses: Raw materials ($2.00) Wages and salaries ($6,100 +$0.20q) Utilities ($1,900 + $0.059) Facility rent ($4,000) Insurance ($2,800) Miscellaneous ($500+ $0.109) Total expenses Net operating income 23,000 $ 89,700 46,000 10,700 3,050 4,000 2,800 2,800 69,350 $ 20,350 In July, 24,000 meals were actually served. The company's flexible budget for this level of activity appears below: Raw materials ($2.000). ences Flight Caf Flexible Budget For the Month Ended July 31 Budgeted meals (q) 24,000 Revenue ($3.90q) $ 93,600 Expenses: 48,000 10,900 $0.059) Miscellaneous (5500 50.100) 3,100 4,000 2,800 2,900 71,700 $ 21,900 Wages and salaries ($6,100+ 50.20q) Utilities ($1,900 Facility rent ($4,000) Insurance ($2,800) Total expenses Net operating income Required: 1. Calculate the company's activity variances for July. Note: 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. < Prev 4 of 5 Next > Budgeted meals (q) Revenue ($3.90q) Expenses: Flexible Budget For the Month Ended July 31 Raw materials ($2.009) Wages and salaries ($6,100+ $0.20q) Utilities ($1,900 +$0.05q) Facility rent ($4,000) Insurance ($2,800) Miscellaneous ($500 +$0.10q) Total expenses Net operating income Required: 1. Calculate the company's activity variances for July. 24,000 $ 93,600 48,000 10,900 3,100 4,000 2,800 2,900 71,700 $ 21,900 Note: 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. Revenue Expenses: Raw materials Wages and salarios Utilities Facility rent Insurance Miscellaneous Total expenses Net operating income Flight Caf Activity Variances For the Month Ended July 31