pter 9 Homework Saved He 17 Flight Caf prepares in-flight meals for airlines in its kitchen located next to a local airport. The company's planning budget for July appears below Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals () 23,000 Revenue ($3.90q) Expenses: Rav materials ($2.20g) Wages and salaries ($6,200 $0.20g) Utilities ($2,100 $0.05q) Facility rent ($3,200) Insurance ($2,200) Miscellaneous ($800$0.10g) Total expense $89,700 Book 50,600 10,800 3,250 3,200 2,200 Hint 3,100 73,150 Net operating income $16,550 In July, 24,000 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) 24,000 $93,600 Revenue ($3.90q) Expenses: Raw materials ($2.20g) Wages and salaries (56,200+ $0.20g) Utilities ($2,100 +$0.05g) Facility rent ($3,200) Insurance ($2,200) Miscellaneous ($800 +$0.10q) Total expense 52,800 11,000 3,300 3,200 2,200 3,200 75,700 $17,900 Net operating income TIOmCTOIR Saved Insurance (52,200) Miscellaneous ($800 $0.10g) Total expense z,200 3,200 75,700 $17,900 Net operating income 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 (i.e., zero variance). Input all amounts as positive values.) Flight Cafe 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