Chapter 9 Homework A Savad Help Save & Exit Submit 2 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 Cafe Planning Budget For the Month Rnded July 31 Budgebed meala 101 26,000 4 points $ 114,400 X 03:23:52 Revenue ($4.4091 Exyeres: Raw materiale ($2.2001 Hages and salaries ($6,500 - $0.2001 Utilities ($2,200 + $0.05) Zacility rent ($3,600) Insurance ($2,800) Miscellaneous ($400 + $0.109) Total expense Net operating income 57,200 11,700 3,500 3,600 2,800 eBook 81,800 $ 32,500 Print In July, 27,000 meals were actually served. The company's flexible budget for this level of activity appears below: References Flight Cafe Flexible Budget For the Morth Eaded July 31 Budgeted meals 191 27,000 $118.800 Ravenue ($4.4091 Expenses: Raw materials ($2.2001 Wages and salaries ($6,500+ $0.2091 Utilities ($2,200 + $0.059) Facility rent ($3,600) Insurance ($2,800 Miscellaneous ($400 + $0.109) Totul expense Net operating income 59,400 11,900 3,550 3,600 3,100 84,350 $ 34,050 Required: 1. Calculate the company's activity variances for July (Indicate the effect of each varlance 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 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.) Book Print Flight Caf Activity Variances For the Month Ended July 31 rences Revenue Expenses: Raw materials Wages and salaries Utilities Facility rent Insurance Miscellaneous Total expense Net operating income