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Education Finance (EduFi) is a starfup that aims to use the power of social comrmunities to transform the student loan market. It connects parficipants through

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Education Finance (EduFi) is a starfup that aims to use the power of social comrmunities to transform the student loan market. It connects parficipants through a dedicated lending pool, enabling current students to borrow from a school's alumni community. Edufis revenue model is to take an upfront fee of 60 basis points (0.60%) each from the alumni investor and the student borrower for every loan originated on its platform. EduFi hopes to go public in the near future and is keen to ensure that its financial results are in line with that ambition. Edufis budgeted and achual results for the third quarter of 2020 are presented below. ifs (Click the icon to view the data.) Requirement 2. Prepare an analysis of variances for the third quarter of 2020; identify the sales volume and flexible budget variances for operating income. (For variances with a $0 balance, make sure to enter " 0 " in the appropriate input field. If the variance is zero, do not select a label. Do not round intermediary calculations. Round the amount entered into the input field to the nearest whole dollar.)

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