Smith Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbished. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for February.

		Fixed Element per Month	Variable Element per Container Refurbished	Actual Total for February
	Revenue		$4,900	$129,900
	Employee salaries and wages	$58,400	$1,000	$84,200
	Refurbishing materials		$500	$13,200
	Other expenses	$39,100		$38,900

When the company prepared its planning budget at the beginning of February, it assumed that 31 containers would have been refurbished. However, 26 containers were actually refurbished during February.

Required:

Prepare a report showing the company's revenue and spending variances for February. Indicate in each case whether the variance is favorable (F) or unfavorable (U).