Help Save Exercise 9-2 (Algo) Activity Variances [LO9-2] Flight Caf prepares in-flight meals for airlines in its kitchen located next to a local alrport. The company's planning budget for July appears below: might cate Planning Budget for the Month Unded July 31 udgeted neals (9) 27.000 Ravenue (54.304) $116.100 Expenses Raw materials (52.209) 59,400 Wages and salaries ($6,400 + $0.209) 11,800 Utilities (52,000 + 50.059) 3.350 Facility rent ($3,300) 3,300 Insurance (52,200) 2.200 Miscellaneous (5800 + 50.109) 3.500 Total expense 83.550 Het operating income $ 32,550 In July, 28,000 meols were actually served. The company's flexible budget for this revel of activity appears below. Che 13 0.27 In July 28,000 meals were actually served. The company's flexible budget for this level of activity appears below Y cate Flexible Budget to the Month wided Yoly Budgeted wale () 23,900 Have (54.361 51200D TO aw materials (02.200) 61,600 Waga swala la 106,400+ 0.100) 12,000 O 02,000 - 50.0501 3,400 TU | | | | | | | | | 3.100 Tecane 12.2001 2,200 scellaneous (3800 - 10.100) total upang OD Het operating income 54,300 Required: 1. Calculate the company's activity variances for July (Indicate the effect of each variance by selecting "P" for favorable. "U" for unfavorable, and "None for no effectie, zero variance). Input all amounts as positive values.) Flient Cale Activity Varianus For the Month Ended July 31 Revenue 13 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 (.o., zero variance), Input all amounts as positive values) 027 DO H Flight Cate Activity Variances For the Month Ended July 31 Revenge Expenses Raw materials Wages and sales Utilities Facility rent Insurance Miscellaneous Total Expono Net operating income