Prepare a report showing the companys 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 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 Variable Variable element element element per month per guest per Jeep 97 0 Revenue 0 0 105 Tour guide wages 5,200 6 58 Vehicle expenses 2,200 1 0 Administrative expenses In February, the company budgeted for 372 guests and 142 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 28 397 Actual guests 145 Actual jeeps 37,589 Revenue Expenses 15,213 Tour guide wages 15,520 Vehicle expenses 2,637 Administrative expenses 33,699 Total expense Net operating income 3,890