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Otomo Jeep Tours operates jeep tours in the heart of the Colorado Rockies. The company...

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Question

Accounting

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:
In July, the company budgeted for 362 guests and 132 jeeps. The company's income statement showing the actual results for the
month appears below:
Required:
Prepare a report showing the company's activity variances for July. Label each variance as favorable (F) or unfavorable (U).
Note: 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.
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