Planning Budget For the Month Ended July 31 Budgeted meals (9) 29, eee $121,800 Revenue ($4.289) Expenses: Raw materials ($2.899) Wages and salaries ($6,389 + $0.209) Utilities ($2,200 + $0.059) Facility rent ($3,900) Insurance ($2,200) Miscellaneous ($500 + $0.189) Total expense Net operating income 58, see 12, 100 3,650 3,90e 2,200 3, 4ee 83, 250 $ 38, 550 In July 30,000 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) 3e, eee $126,00 Revenue ($4.289) Expenses: Raw materials ($2.00) Wages and salaries ($6,388+ $0.209) Utilities ($2,200 + $0.059) Facility rent ($3,900) Insurance ($2,200) Miscellaneous ($508 + $0.199) Total expense Net operating income 60, eee 12,300 3,700 3,900 2,200 3,500 85,600 $ 40,400 Required: 1. Calculate the company's activity varlances for July. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Input all amounts as positive values.) Flight Caf Activity Variances For the Month Ended July 31 Revenue Expenses: Raw materials Wages and salaries Utilities Facility rent Insurance Miscellaneous Total expense Net operating income