Poljak Tech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers), namely student and course. The school uses the following data in its budgeting:

In February, the school budgeted for 1,970 students and 137 courses. The school's income statement showing the actual results for the month appears below:
Actual students..........................................2370
Actual courses............................................$142
Revenue.............................................$712,020
Expenses Faculty wages............................$336,260
Course supplies..........................................$124,010
Administrative expenses..............................$73,660
Total Expenses...........................................$533,930
Net operating income.................................$178,090
Required:
Prepare a report showing the school's revenue and spending variances for February. Label each variance as favorable (F) or unfavorable (U).

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fixed element per month variable element per month variable element per course revenue faculty wages course supplies administrative expenses S0 So S0 $38600 SO S2400 $40 $20 SO $14