1. (6 points) Rossean 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: Revenue Faculty wages Course supplies Administrative expenses Fixed element per month $ 0 $ 0 $ 0 Variable element per student $ 354 $ 0 48 Variable element per course $ 0 $ 2,300 $ 40 $ 21 $ $ 41,700 $ 13 $ In October, the school budgeted for 1,400 students and 127 courses. The actual activity for the month was 1,500 students and 129 courses. Required: Prepare a report showing the school's activity variances for October. Label each variance as favorable (F) or unfavorable (U)