Hottle 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:

	Fixed element per month			Variable element per guest			Variable element per jeep
Revenue	$	0		$	80		$	0
Tour guide wages	$	0		$	0		$	100
Vehicle expenses	$	3,000		$	4		$	50
Administrative expenses	$	1,100		$	1		$	0

In February, the company budgeted for 350 guests and 120 jeeps. The company's income statement showing the actual results for the month appears below: Hottle Jeep Tours Income Statement For the Month Ended February 28 Actual guests Actual jeeps 375 123 Revenue $29,300 Expenses Tour guide wages Vehicle expenses Administrative expenses 12,289 10,360 1,520 Total expense 24,365 Net operating income $ 4,935 Required Prepare a report showing the company's revenue and spending variances for February. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) HOTTLE JEEP TOURS Revenue and Spending Variances For the Month Ended February 28 Revenue Expenses Tour guide wages Vehicle expenses Administrative expenses Total expense Net operating income