1. Calculate the company's activity variances for July. (Indicate the effect of each variance by selecting...

   

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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 Caf Activity Variances For the Month Ended July 31 Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($4.10q) Expenses: Raw materials ($2.30q) Wages and salaries ($6,300 + $0.20q) Utilities ($1,800 + $0.05q) Facility rent ($3,200) Insurance ($2,400) Miscellaneous ($600 + $0.109) Total expense Net operating income 27,000 $ 110,700 62,100 11,700 3,150 3,200 2,400 3,300 85,850 $ 24,850 In July, 28,000 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 (q) Revenue ($4.10q) Expenses: Raw materials ($2.30q) Wages and salaries ($6,300+ $0.209) Utilities ($1,800 + $0.059) Facility rent ($3,200) Insurance ($2,400) Miscellaneous ($600 + $0.10q) Total expense Net operating income 28,000 $ 114,800 64,400 11,900 3,200 3,200 2,400 3,400 88,500 $ 26,300 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 Caf Activity Variances For the Month Ended July 31 Flight Caf Planning Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($4.10q) Expenses: Raw materials ($2.30q) Wages and salaries ($6,300 + $0.20q) Utilities ($1,800 + $0.05q) Facility rent ($3,200) Insurance ($2,400) Miscellaneous ($600 + $0.109) Total expense Net operating income 27,000 $ 110,700 62,100 11,700 3,150 3,200 2,400 3,300 85,850 $ 24,850 In July, 28,000 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 (q) Revenue ($4.10q) Expenses: Raw materials ($2.30q) Wages and salaries ($6,300+ $0.209) Utilities ($1,800 + $0.059) Facility rent ($3,200) Insurance ($2,400) Miscellaneous ($600 + $0.10q) Total expense Net operating income 28,000 $ 114,800 64,400 11,900 3,200 3,200 2,400 3,400 88,500 $ 26,300