Cosme 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 April, the school budgeted for 1,870 students and 174 courses. The school's income statement showing the actual results for the month appears below:

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

$0 Fixed element Variable element per month per student $336 $0 $0 $52 $47,700 $13 Revenue...... Faculty wages .... Course supplies. Administrative expenses....... Variable element per course $0 $2,000 $30 $29 $0 Cosme Tech Income Statement For the Month Ended April 30 Actual students........... Actual courses 1,670 172 ............. $550.600 Revenue Expenses: Faculty wages....... Course supplies Administrative expenses .......... Total expense. Net operating income. 350,110 93,040 75.728 518.878 $ 31.722