OPEO UCIUW. Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals (9) 30,000 $123,000 Revenue ($4.109) Exponses: Raw materials ($2.309) Wages and salaries ($6,200 + $0.209) Utilities ($1,800 + $0.959) Facility rent ($3,100) Insurance ($2,900) Miscellaneous ($800 + $0.189) Total expense Net operating income 69,000 12,200 3,300 3,100 2,900 3.800 94,300 $ 28,700 In July, 31,000 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 (9) 31,000 Revenue ($4.100) $127, 100 Expenses: Raw materials ($2.300) 71,300 Wages and salaries (56,200 $0.209) 12,400 Utilities ($1,800 + $0.059) 3,350 Facility rent ($3,100) 3,100 Insurance ($2,900) 2,900 Miscellaneous ($800 + $0.109) 3,900 Total expense 96,950 Net operating income $ 30,150 --- Net operating income 30,150 Required: 1. Calculate 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 (1.e., zero variance). Input all amounts as positive values.) ent ences Flight Cafe Activity Variances For the Month Ended July 31 Revenue Expenses Raw materials Wages and salaries Utilities Facility ront Insurance Miscellaneous Total expense Net operating income N