$49)$ Roberds 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:

Fixed element per month Variable element per student Variable element per course

Revenue $ $0$ $ $238$ $ $0$

Faculty wages $ $0$ $ $0$ $ $2,980$

Course supplies $ $0$ $ $40$ $ $28$

Administrative expenses $ $25,900$ $ $15$ $ $40$

In March, the school budgeted for $1,790$ students and $76$ courses. The school's income statement showing the actual results for the month appears below:

Roberds Tech

Income Statement

For the Month Ended March $31$

Actual students $1,690$

Actual courses $79$

Revenue $ $351,340$

Expenses:

Faculty wages $208,950$

Course supplies $56,590$

Administrative expenses $55,562$

Total expense $321,102$

Net operating income $ $30,238$

Required:

Prepare a flexible budget performance report showing both the school's activity variances and revenue and spending variances for March. Label each variance as favorable $($F$)$ or unfavorable $($U$).$