El Lobo Tech is a for profit vocational school. The school bases its budgets on two measures of activity, namely student and course. The school uses the following data in its budgeting: Budgeting Data Fixed element per month $ 0 $ 0 Variable element per student $ 425 $ 0 Revenue Faculty wages Course supplies Variable element per course $ 0 $ 2,800 $ 36 $ 0 $ 62 Admin. Expenses $ 31,600 $ 21 $ 32 In June, the school budget for 1,070 students and 90 courses. The actual activity for the month was 1,370 students and 95 courses. Required: Prepare the school's flexible budget for June