Nield 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 430 guests and 210 jeeps.The actual activity for the month was 415 guests and 205 jeeps.
Required:
Prepare a report showing the company's activity variances for July.Label each variance as favorable (F)or unfavorable (U).
Definitions:
Time Deposits
Deposits that earn a fixed interest rate if held for the specified period, which can range from several months to several years; also called certificates of deposit.
Money Market Mutual Funds
Investment funds that invest in short-term debt securities, offering investors a high degree of liquidity and typically low risk.
M1 Money Supply
The measure of the most liquid components of the money supply, including currency in circulation and demand deposits in banks.
Checkable Deposits
Bank deposits that allow the account owner to write checks to third parties; debit cards can also access these deposits and transmit them electronically.
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