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Flight Café is a company that prepares in-flight meals for airlines in its kitchen located next to the local airport. The companys planning budget for July appears below: Flight Cafe Planning Budget For the Month Ended July 31 Budgeted meals (g) Revenue (53.90q) Expenses 27,000 S105,300 Raw materials ($1.90q) Wages and salaries ($6,300+$0.20q) Utilities ($2,000$0.05q) Facility rent ($4,000) Insurance ($2,900) Miscellaneous ($500 $0.10q 51,300 11,700 3,350 4,000 2,900 3,200 76,450 S 28,850 Total expense Net operating income In July, 28,000 meals were actually served. The companys flexible budget for this level of activity appears below: Flight Café Flexible Budget For the Month Ended July 31 Budgeted meals (g) Revenue ($3.90q) Expenses 28,000 109,200 Raw materials ($1.90q) Wages and salaries ($6,300+$0.20q) Utilities ($2,000$0.05q) Facility rent ($4,000) Insurance ($2,900) Miscellaneous ($500 $0.10q 53,200 11,900 3,400 4,000 2,900 3,300 78.700 $30,500 Total expense Net operating incomeRequired: 1. Compute 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.) Flight Café Activity Variances For the Month Ended July 31 Revenue Expenses: Raw materials Wages and salaries Utilities Facility rent nsurance Miscellaneous Total expense Net operating income Hints References eBook & Resources Hint#1

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