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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 Cata Planning Budget For the Month Ended July 31 Budgeted meals (9) 25,000 Revenue ($3.809) $95,000 Expenses : Raw materials ($2.309) 57,500 Wages and salaries ($6,200 + $0.209) 11,200 Utilities ($1,900 + $0.059) 3,150 Facility rent ($3,900) 3,900 Insurance ($2,600) 2,600 Miscellaneous ($500 + $0.109) 3.000 Total expense 81,350 $13,650 Net operating income In July, 26,000 meals were actually served. The company's flexible budget for this level of activity appears below: Plight Caf Plexible Budget For the Month Ended July 31 Budgeted meals (9) 26,000 $98,800 Revenue ($3.804) Expenses : Raw materials ($2.300) Wages and salaries ($6,200+ $0.209) Utilities ($1,900 + $0.059) Pacility rent ($3,900) 59,800 11,400 3,200 3,900 Ne > 4 of 6 !!! 4 of 6 !!!