Cryan Jeep Tours operates jeep tours in the heart of the Colorado Rockies. The company bases its budgets on two measures of activity (ie, 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 Fixed element per month Variable element per guest Variable element per jeep $0 $157 $0 $0 $ 0 $167 $ 5,000 $1,500 $ 9 $8 $ 64 $ 0 In May, the company budgeted for 467 guests and 172 jeeps. The company's income statement showing the actual results for the month appears below. Cryan Jeep Tours Income Statement For the Month Ended May 31 Actual guests Actual jeeps Revenue Expenses: Tour guide wages Vehicle expenses Administrative expenses Total expense 482 167 $ 65,854 28,357 17,640 4,888 50,885 $14,969 Net operating income Required: 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 Revenue and Spending Variances For the Month Ended May 31 Guests Jeeps Revenue Expenses: Tour guide wages Vehicle expenses Administrative expenses Total expense Net operating income Actual Results Flexible Budget Revenue and Spending Variances - 482 167 482 $ 65,854 $ 167 75,674 S 9,820 U U [F F F