Otomo Jeep Tours operates jeep tours in the heart of the Colorado Rockies. The company bases its budgets on two measures of activity (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 Fixed element variable element element per per month per guest Revenue Jeep $ 91 $ Tour guide wages $0 $ 0 Vehicle expenses $ 3,700 $ 4 57 Administrative expenses $1,800 5 1 $ 0 $ 0 0 $ 107 $ In July, the company budgeted for 357 guests and 127 jeeps. The company's income statement showing the actual results for the month appears below: Otomo Jeep Tours Income Statement For the Month Ended July 31 Actual guests 354 Actual jeeps 129 Revenue $32,154 Expenses: Tour guide wages 13,553 Vehicle expenses 12,589 Administrative expenses 2,154 Total expense 28, 296 Net operating income $ 3,858 Required: Prepare a report showing the company's activity variances for July. Label each variance as favorable ( or unfavorable (U). (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance). Input all amounts as positive values.) Otomo Jeep Tours Activity Variances For the Month Ended July 31 Flexible Planning Budget Budget Activity Variances Activity Variances 354 Otomo Jeep Tours Activity Variances For the Month Ended July 31 Flexible Planning Budget Budget Guests 357 Jeeps 129 127 Revenue Expenses Tour guide wages Vehicle expenses Administrative expenses Total expense Net operating income