Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted divinghours (q) 100 Revenue ($365.00q) $ 36,500 Expenses: Wages and salaries ($8,000 + $125.00q) 20,500 Supplies ($3.00q) 300 Equipment rental ($1,800 + $32.00q) 5,000 Insurance ($3,400) 3,400 Miscellaneous ($630 + $1.80q) 810 Total expense 30,010 Net operating income $ 6,490 During May, the company's actual activity was 105 diving-hours. Required: Prepare a flexible budget for May. Revenue Expenses Mbgesandsabes Supplies Equipment rental Insurance Miscellaneous Totalexpense Net operating income ' ' Revenue Expenses: Raw materials Wages and salaries Utilities Facility rent Insurance Miscellaneous Total expense Net operating income Flight Cafe 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 Cafe Planning Budget For the Month Ended July 31 Budgeted meals (q) 18, 000 Revenue ($4.50q) $ 81, 000 Expenses : Raw materials ($2.40q) 43, 200 Wages and salaries ($5, 200 + $0. 30q) 10, 600 Utilities ($2, 400 + $0.05q) 3 , 300 Facility rent ($4, 300) 4, 300 Insurance ($2, 300) 2 , 300 Miscellaneous ($680 + $0. 10q) 2, 480 Total expense 66, 180 Net operating income $ 14, 820 In July, 17,800 meals were actually served. The company's flexible budget for this level of activity appears below: Flight Cafe Flexible Budget For the Month Ended July 31 Budgeted meals (q) 17, 800 Revenue ($4.50q) $ 80, 100 Expenses : Raw materials ($2.40q) 42, 720 Wages and salaries ($5, 200 + $0.30q) 10, 540 Utilities ($2, 400 + $0.05q) 3 , 290 Facility rent ($4, 300) 4, 300 Insurance ($2, 300) 2, 300 Miscellaneous ($680 + $0.10q) 2, 460 Total expense 65, 610 Net operating income $ 14, 490 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.)Quilcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating incomeQuilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 8,000 pounds of oysters in August. The company's flexible budget for August appears below: Quilcene Oysteria Flexible Budget For the Month Ended August 31 Actual pounds (q) 8,000 Revenue ($4.00q) $ 32,000 Expenses: Packing supplies ($0.50q) 4,000 Oyster bed maintenance ($3,200) 3,200 Wages and salaries ($2,900 + $0.30q) 5,300 Shipping ($0.80q) 6,400 Utilities ($830) 830 Other ($459 + $0.05q) 850 Total expense 20,580 Net operating income $ 11,429 The actual results for August were as follows: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds 8,000 Revenue $ 35,200 Expenses: Packing supplies 4,200 Oyster bed maintenance 3,100 Wages and salaries 5,640 Shipping 6,950 Utilities 810 Other 980 Total expense 21,680 Net operating income $ 13,529 Required: Calculate the company's revenue and spending variances for August. (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.)