Reyna Corporation is a service company that measures its output by the number of customers served. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for July Variable Element per Customer Served $4,500 $900 Revenue Employee salaries and wages Travel expenses Other expenses Multiple Choice O $11,500 $37,900 When the company prepared Its planning budget at the beginning of July, It assumed that 27 customers would have been served. However, 22 customers were actually served during July The activity variance for net operating income for July would have been closest to: $16,400 F $16,400 U $15.500 U Fixed Element per Month $15,500 F $43,100 $36,900 Actual Total for July $100,000 $63,300 $500