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: Variable element per guest Fixed element per month $ 0 $ 0 $ 6,400 $ 2,900 Revenue Tour guide wages Vehicle expenses Administrative expenses $297 Variable element per jeep $o $ 153 $ 78 $ 0 $ 0 $ 23 $ 22 In May, the company budgeted for 537 guests and 242 jeeps. The company's income statement showing the actual results for the month appears below: 552 237 $ 127,854 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 Net operating income 39,557 24,640 11,888 76,085 51,769 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 Actual Results Flexible Budget Revenue and Spending Variances Guests 552 552 Jeeps 237 237 Revenue Expenses: Tour guide wages Vehicle expenses Administrative expenses Total expense Net operating income