300 Save Homework: Chapter 7 Score: 0 of 5 pts 4 of 6 (0 complete) HW Score: 0%, 0 of 18 pts E7-33 (book/static) Tutoring Question Help Student Finance (StuFi) is a startup that aims to use the power of social communities to transform the student loan market. It connects participants through a dedicated landing pool, enabling current students to borrow from a schools alumni community. StuFis revenue model is to take an upfront fee of 40 basis points (0.40%) each from the alumni investor and the student borrower for every loan originated on its platform StuFi hopes to go public in the near future and is keen to ensure that its financial results we in line with that ambition. StuF's budgeted and actual results for the third quarter of 2017 are presented below. (Click the icon to view the data Read the requirements Requirement 1. Prepare StuFi's static budget of operating income for the third quarter of 2017. (Do not round intermediary calculations. Round the amount you entor into the input cell to the nearest whole dollar) Student Finance Static Budget 2017 Loans Revenues Variable costs Professional labor Credit verification Federal doo foes Courier Services Enter any number in the edit hields and then click Check Answer 5 remaining parts Clear All Check Answer E7-33 book/static) Student Finance (StuFi) is a startup that aims to use the power of social communities to transform lending pool, enabling current students to borrow from a school's alumni community. StuFi's reve from the alumni investor and the student borrower for every loan originated on its platform. StuFi financial results are in line with that ambition. StuFi's budgeted and actual results for the third qua (Click the icon to view the data.) Read the requirements. ZUTT Loans Revenues Variable costs: Professional labor Credit verification Federal doc fees Courier services Total variable costs Contribution margin Fixed administrative costs Fixed technology costs Operating income Enter any number in the edit fields and then click Check Answer. bange fund e IAAN and the chant bar for AvDan adainatodan terlatform CWC Dopoeto 1 Data Table Static Budget Actual Results 8,200 145,000 10,250 $162,000 $ $ 360 (8 hrs at $45 per hour) 475 (9.5 hrs at $50 per hour) New loans originated Average amount of loan Variable costs per loan Professional labor Credit verification Federal documentation fees Courier services Administrative costs (fixed) Technology costs (fixed) $ 100 100 $ 120 125 $ 50 $ 54 $ 800,000 1,300,000 $ 945,000 $ 1,415,000 $ Print Done at aims to use the power of social communities to transform the student loan market. It conne to borrow from a school's alumni community. StuFi's revenue model is to take an upfront fee nt borrower for every loan originated on its platform. StuFi hopes to go public in the near futur bition. StuFi's budgeted and actual results for the third quarter of 2017 are presented below. X i Requirement 1. Prepare StuFi's static budget of operating income for the third quarter of 2017. 2. Prepare an analysis of variances for the third quarter of 2017; identify the sales volume and flexible budget variances for operating income. 3. Compute the professional labor price and efficiency variances for the third quarter of 2017. 4. What factors would you consider in evaluating the effectiveness of professional labor in the third quarter of 2017? Print Done