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 ($4.20q) Expenses: Raw materials ($2.20q) Wages and salaries ($6,300 + $0.20q) Utilities ($2,000 + $0.05q) Facility rent ($3,200) Insurance ($2,700) Miscellaneous ($700 + $0.10q) Total expense Net operating income 29,000 $ 121,800 63,800 12,100 3,450 3,200 2,700 3,600 88,850 $ 32,950 In July, 30,000 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 ($4.20q) Expenses: Raw materials ($2.20g) Wages and salaries ($6,300+ $0.209) Utilities ($2,000 + $0.05q) Facility rent ($3,200) Insurance ($2,700) Miscellaneous ($700 + $0.10q) Total expense Net operating income Required: 30,000 $ 126,000 66,000 12,300 3,500 3,200 2,700 3,700 91,400 $ 34,600 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 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 ($4.20q) Expenses: Raw materials ($2.20q) Wages and salaries ($6,300 + $0.20q) Utilities ($2,000 + $0.05q) Facility rent ($3,200) Insurance ($2,700) Miscellaneous ($700 + $0.10q) Total expense Net operating income 29,000 $ 121,800 63,800 12,100 3,450 3,200 2,700 3,600 88,850 $ 32,950 In July, 30,000 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 ($4.20q) Expenses: Raw materials ($2.20g) Wages and salaries ($6,300+ $0.209) Utilities ($2,000 + $0.05q) Facility rent ($3,200) Insurance ($2,700) Miscellaneous ($700 + $0.10q) Total expense Net operating income Required: 30,000 $ 126,000 66,000 12,300 3,500 3,200 2,700 3,700 91,400 $ 34,600 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.)