Will be using as study material later on so if possible steps included would be much appreciated.

Many thanks!

Required: 1. Calculate the company's activity variances for July. Note: 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. Exercise 9-2 (Algo) Activity Variances [LO9-2] Flight Caf prepares in-flight meals for airlines and its planning budget for July appears below: In July, 28,000 meals were actually served. The company's flexible budget for this level of activity appears below