Flight Caf prepares in-flight meals for airlines in its kitchen located next to a local airport....

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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 Caf Planning Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($3.900) Expenses: Raw materials ($2.000) Wages and salaries ($6,200 + $0.20q) Utilities ($2,100 + $0.05q) Facility rent ($3,700) Insurance ($2,900) Miscellaneous ($400 + $0.10q) Total expense Net operating income 22,000 $ 85,800 44,000 10,600 3,200 3,700 2,900 2,600 67,000 $ 18,800 In July, 23,000 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 ($3.90q) Expenses: Raw materials ($2.00g) Wages and salaries ($6,200+ $0.20q) Utilities ($2,100 + $0.05q) Facility rent ($3,700) Insurance ($2,900) Miscellaneous ($400 +$0.10g) Total expense Net operating income Required: 1. Calculate the company's activity variances for July. 23,000 $ 89,700 46,000 10,800 3,250 3,700 2,900 2,700 69,350 $ 20,350 Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero Revenue Expenses: Raw materials Wages and salaries Utilities Facility rent Insurance Miscellaneous Total expense Net operating income Flight Caf Activity Variances For the Month Ended July 31 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 Caf Planning Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($3.900) Expenses: Raw materials ($2.000) Wages and salaries ($6,200 + $0.20q) Utilities ($2,100 + $0.05q) Facility rent ($3,700) Insurance ($2,900) Miscellaneous ($400 + $0.10q) Total expense Net operating income 22,000 $ 85,800 44,000 10,600 3,200 3,700 2,900 2,600 67,000 $ 18,800 In July, 23,000 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 ($3.90q) Expenses: Raw materials ($2.00g) Wages and salaries ($6,200+ $0.20q) Utilities ($2,100 + $0.05q) Facility rent ($3,700) Insurance ($2,900) Miscellaneous ($400 +$0.10g) Total expense Net operating income Required: 1. Calculate the company's activity variances for July. 23,000 $ 89,700 46,000 10,800 3,250 3,700 2,900 2,700 69,350 $ 20,350 Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero Revenue Expenses: Raw materials Wages and salaries Utilities Facility rent Insurance Miscellaneous Total expense Net operating income Flight Caf Activity Variances For the Month Ended July 31