Otomo 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 Fixed element per month Variable element per guest Variable element per jeep $ 0 $ 96 $ 0 $ 0 $ 0 $ 110 $ 5,100 $ 2,100 $ 5 $ 1 $ 57 $ 0 In July, the company budgeted for 371 guests and 141 jeeps. The company's income statement showing the actual results for the month appears below: Actual guests Actual jeeps Revenue Expenses: Otomo Jeep Tours Income Statement For the Month Ended July 31 Tour guide wages Vehicle expenses Administrative expenses Total expense Net operating income Required: 364 143 $ 34,884 15,480 15,191 2,464 33,135 $ 1,749 Prepare a report showing the company's activity variances for July. 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.) Guests Jeeps Revenue Expenses: Tour guide wages Vehicle expenses Administrative expenses Total expense Net operating income Otomo Jeep Tours Activity Variances For the Month Ended July 31 Flexible Budget Planning Budget Activity Variances 364 371 143 141