Cryan Jeep Tours operates jeep tours in the heart of the Colorado Rockies. The company bases its budgets on two measures of activity (i.e., cost drivers), namely guests and jeeps. One vehicle used in one tour on one day counts as a jeep. Each jeep has one tour guide. The company uses the following data in its budgeting: Revenue Tour guide wages Vehicle expenses Administrative expenses Actual guests Actual jeeps Revenue Expenses: Fixed element per month $0 $ 4,900 $ 1,400 Tour guide wages Vehicle expenses Administrative expenses Total expense Net operating income Cryan Jeep Tours Income Statement For the Month Ended May 31 Variable element per guest $147 In May, the company budgeted for 462 guests and 167 jeeps. The company's income statement showing the actual results for the month appears below: $0 $8 $7 477 162 $62,854 Variable element per jeep 27,557 17,140 4,388 49,085 $ 13,769 $0 $168 $ 63 Required: A Prepare a report showing the company's revenue and spending variances for May. Label each variance as favorable (F) or unfavorable (U). (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.)

Cryan Jeep Tours operates jeep tours in the heart of the Colorado Rockles. The company bases its budgets on two measures of activity (l.e., cost drivers), namely guests and jeeps. One vehicle used in one tour on one day counts as a jeep. Each jeep has one tour guide. The company uses the following data in its budgeting: In May, the company budgeted for 462 guests and 167 jeeps. The company's income statement showing the actual results for the month appears below: Required: Prepare a report showing the company's revenue and spending variances for May. Label each varlance as favorable (F) or unfavorable (U). (Indicate the effect of eoch variance by selecting " F " for favorable, "U" for unfovorable, and "None" for no effect (i.e., zero varinnce). Input all amounts as positive volues.) Prepare a report showing the company's tevenue and spending vatiances for May. Label each varlance as favorable ( F ) or unfavorable (U). (Indicate the effect of each variance by selecting " F " for fovoroble, "U" for unfavorable, and "None" for no effect (i.e., zero varionce), Input all omounts as positive values.)