Question: WILL VENMO NEED ANSWER WITHIN 10 MIN ASAP Flight Caf prepares in-flight meals for airlines in its kitchen located next to a local airport. The

WILL VENMO NEED ANSWER WITHIN 10 MIN ASAP

Flight Caf prepares in-flight meals for airlines in its kitchen located next to a local airport. The companys planning budget for July appears below:

Flight Caf
Planning Budget
For the Month Ended July 31
Budgeted meals (q) 30,000
Revenue ($4.30q) $ 129,000
Expenses:
Raw materials ($1.90q) 57,000
Wages and salaries ($6,300 + $0.20q) 12,300
Utilities ($2,200 + $0.05q) 3,700
Facility rent ($3,000) 3,000
Insurance ($2,500) 2,500
Miscellaneous ($600 + $0.10q) 3,600
Total expense 82,100
Net operating income $ 46,900

In July, 31,000 meals were actually served. The companys flexible budget for this level of activity appears below:

Flight Caf
Flexible Budget
For the Month Ended July 31
Budgeted meals (q) 31,000
Revenue ($4.30q) $ 133,300
Expenses:
Raw materials ($1.90q) 58,900
Wages and salaries ($6,300+ $0.20q) 12,500
Utilities ($2,200 + $0.05q) 3,750
Facility rent ($3,000) 3,000
Insurance ($2,500) 2,500
Miscellaneous ($600 + $0.10q) 3,700
Total expense 84,350
Net operating income $ 48,950

Required:

1. Calculate the companys 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.)

___ ANSWER IN THIS TABLE

Flight Caf
Activity Variances
For the Month Ended July 31
Revenue
Expenses:
Raw materials
Wages and salaries
Utilities
Facility rent
Insurance
Miscellaneous
Total expense
Net operating income

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